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EUR/USD is trading around 1.1607, rebounding after reaching strong support located around 2/8 Murray at 1.1596.
If the euro consolidates above 2/8 Murray in the coming hours, it could be seen as an opportunity to take long positions, with a target at the 3/8 Murray located at 1.1657.
If downward pressure prevails and the euro falls below 2/8 Murray, the euro is expected to find strong support around the bottom of the downtrend channel located at 1.1565.
In case of a technical rebound above 1.1596 or 1.1555, it will be seen as an opportunity to enter long positions with a target at 1.1657, where Murray's 3/8 is located.
The Eagle indicator is showing a positive signal, so the trading plan will be to buy the euro n the coming hours as a recovery is expected in the coming days.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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