empty
01.09.2023 03:23 PM
Trading Signal for EUR/USD for September 1-4, 2023: buy above 1.0830 and sell below 1.0917 (2/8 Murray - 200 EMA)

This image is no longer relevant

EUR/USD found support around 1.0830. This level coincides with 61.8% (traced from the low of 1.0764 and the high of 1.0944). Early in the American session, we may see a consolidation of the euro ahead of the nonfarm payrolls which could give it a strong boost and EUR/USD could rally to the top of the downtrend channel around 1.0917.

In case there is a pullback towards the 200 EMA (1.0917), it could be seen as an opportunity to resume selling because the eagle indicator has been giving an overbought signal since August 29. So, we will have an opportunity to sell.

In case the nonfarm payrolls data is negative for the US dollar, we could expect a strong technical rebound in the euro and EUR/USD could break 2/8 Murray and consolidate above 1.0866, which will be seen as an opportunity to buy with targets from 1.0917 to 1.0944.

Conversely, in case the euro fails to consolidate above the 2/8 Murray and above the 21 SMA located at 1.0865, then it could be seen as a signal to sell below this area. The euro could fall towards the 1/8 Murray support level at 1.0803 and to the low of August 25 around 1.0764.

On the condition of a daily close of EUR/USD above the 200 EMA and above the 1.0945 weekly high, the euro could change the trend and produce a bullish medium-term sign. If this scenario occurs, the euro could reach the psychological barrier at 1.1000 and a one-month high recorded at 1.1064 on August 10.

In case the bearish pressure accelerates, the key will be to sell below 1.0917 and below 1.0866 with the target at 1.0764.

Our trading plan is to buy the euro above the 61.8% Fibonacci level around 1.0830 with the target at 1.0866 and the 23% Fibonacci level around 1.0900. Finally, we could sell if the euro falls below 1.0866.

Dimitrios Zappas,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Trading Signals for EUR/USD for March 26-28, 2025: sell below 1.0808 (21 SMA - 8/8 Murray)

According to the H4 chart, the euro appears oversold, and we believe that if EUR/USD finds strong support around the 8/8 Murray level at 1.0742 or 1.0690, it will

Dimitrios Zappas 15:13 2025-03-26 UTC+2

Trading Signals for GOLD (XAU/USD) for March 26-28, 2025: sell below $3,034 (21 SMA - 7/8 Murray)

Gold could continue its bearish cycle in the coming days. To confirm the downtrend, we should expect consolidation below 3,020, then the price could reach the 6/8 Murray at 2,968

Dimitrios Zappas 15:11 2025-03-26 UTC+2

Forex forecast 26/03/2025: EUR/USD, GBP/USD, Gold and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 10:35 2025-03-26 UTC+2

EUR/USD. March 26th. Bears Preparing for a New Attack

On Tuesday, the EUR/USD pair once again rebounded from the support zone of 1.0781–1.0797, but the bulls showed weakness due to the lack of a supportive news background. Today

Samir Klishi 10:32 2025-03-26 UTC+2

GBP/USD. March 26th. Inflation May Move the Pound

On the hourly chart, the GBP/USD pair continued to trade sideways on Tuesday, showing no reaction to the 1.2931 level. Therefore, a new close above or below this level will

Samir Klishi 10:29 2025-03-26 UTC+2

Technical Analysis of Intraday Price Movement of AUD/JPY Cross Currency Pairs, Wednesday March 26, 2025.

It can be seen on the 4-hour chart that the AUD/JPY cross currency pair is moving in a Bullish channel harmoniously and is above the EMA (21) which also

Arief Makmur 09:34 2025-03-26 UTC+2

Technical Analysis of Intraday Price Movement of Nasdaq 100 Index,Wednesday March 26, 2025.

20405.7 With the appearance of Convergence between the Nasdaq 100 index price movement and the Stochastic Oscillator indicator and the price movement of the index moving above the EMA (21)

Arief Makmur 09:34 2025-03-26 UTC+2

EUR/USD and GBP/USD March 26 – Technical Analysis

As the week begins, bearish players are trying to confirm and extend the prevailing downtrend, but they have yet to achieve strong results — The pair continues to stay close

Evangelos Poulakis 04:26 2025-03-26 UTC+2

EUR/USD. March 25th. A Dull Week Ahead

On Monday, the EUR/USD pair rebounded from the 200.0% Fibonacci retracement level at 1.0857, reversed in favor of the U.S. dollar, and declined toward the support zone of 1.0781–1.0797

Samir Klishi 18:04 2025-03-25 UTC+2

GBP/USD. March 25th. The Pound Moves Into a Sideways Range

On the hourly chart, the GBP/USD pair consolidated above the 1.2931 level on Monday, but the bulls failed to sustain the upward move and retreated. The pair subsequently moved back

Samir Klishi 17:58 2025-03-25 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.