empty
15.12.2023 04:12 PM
Trading Signals for EUR/USD for December 15-18, 2023: sell below 1.0983 (6/8 Murray - overbought)

This image is no longer relevant

Early in the American session, the Euro (EUR/USD) is trading around 1.0952, below the 21 SMA, and below the psychological level of 1.10.

Yesterday, the euro reached a high of 1.1008 which coincides with the price levels of November. Since then, we observed a strong exhaustion of the bullish strength. EUR/USD is now consolidating below the 21 SMA.

EUR/USD is likely to continue a downward movement in the next few hours. Hence, the instrument could reach 5/8 Murray located at 1.0864 or even the 200 EMA located at 1.0854.

According to the 1-hour chart, the eagle indicator is giving an extremely overbought signal, so we expect a technical correction towards the daily support of 1.0908 or EUR/USD could even reach 1.0864 (5/8 Murray).

In case EUR/USD reaches the key 1.0900 level, a technical bounce towards 1.0950 and 1.0983 could occur. If bearish pressure persists, the euro could find another technical bounce around 1.0864. Both levels could allow us to buy with the target at 1.0986.

As long as the euro trades below the psychological level of 1.10, the outlook will remain negative. Therefore, EUR/USD could return to 4/8 Murray levels at 1.0742 in the coming days.

Dimitrios Zappas,
Analytical expert of InstaForex
© 2007-2025
Summary
Urgency
Analytic
Dimitrios Zappas
Start trade
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

EUR/USD – August 14th. Friday will be decisive

On Wednesday, the EUR/USD pair continued its upward movement and consolidated above the 76.4% retracement level at 1.1695. This suggests that the euro may continue rising today toward the next

Samir Klishi 11:57 2025-08-14 UTC+2

GBP/USD – August 14th. The UK economy delivers positive news

On the hourly chart, the GBP/USD pair continued its upward move on Wednesday and reached the 100.0% retracement level at 1.3586, which borders the resistance area of 1.3611–1.3620. A rebound

Samir Klishi 11:15 2025-08-14 UTC+2

EUR/USD. Indicator Analysis on August 14, 2025

On Wednesday, the pair, moving upward, tested the 85.4% retracement level at 1.1731 (yellow dashed line) and then declined, closing the daily candle at 1.1704. Today, the price may begin

Stefan Doll 11:00 2025-08-14 UTC+2

GBP/USD. Indicator Analysis on August 14, 2025

On Wednesday, the pair, moving upward, tested the upper fractal at 1.3587 (red dashed line) and then retreated slightly, closing the daily candle at 1.3571. Today, the price may begin

Stefan Doll 10:48 2025-08-14 UTC+2

EUR/USD. The Pair May Correct Downward Amid Trump's Speech

Today, U.S. President D. Trump is scheduled to speak. Investors, already aware that he might throw in something unexpected, are reducing part of their long positions in the pair just

Pati Gani 10:03 2025-08-14 UTC+2

XAU/USD. Analysis and Forecast

The breakout above the $3358 level, where the 100-period Simple Moving Average (SMA) on the 4-hour chart is located, against the backdrop of the earlier confirmed hold above the 200-period

Irina Yanina 08:38 2025-08-14 UTC+2

There was an attempt to strengthen despite a weakening bias in the commodity asset Palladium against the USD. Thursday, August 14, 2025.

[XPD/USD] – [Thursday, August 14, 2025] Although the bias for Palladium remains weakening, as indicated by the Death Cross of the two EMAs, the RSI (14) which

Arief Makmur 06:21 2025-08-14 UTC+2

Today, the Nasdaq 100 index has the potential to weaken to its nearest support level. Thursday, August 14, 2025.

[Nasdaq 100 Index] – [Thursday, August 14, 2025] Although the EMA (50) is still forming a Golden Cross above the EMA(200), the RSI (14) indicator, which is at a neutral

Arief Makmur 06:21 2025-08-14 UTC+2

EUR/USD Forecast for August 14, 2025

The euro has consolidated above the daily-scale balance indicator line and is slowly continuing its rise toward the MACD line at 1.1770. The Marlin oscillator has entered positive territory

Laurie Bailey 04:57 2025-08-14 UTC+2

GBP/USD Forecast for August 14, 2025

Once again, the British pound has emerged as a leader in the currency market during the rise in stock indexes, showing strong risk appetite. However, we will see the consequences

Laurie Bailey 04:57 2025-08-14 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.