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Early in the American session, the Euro is trading around 1.0814, above the 21 SMA, and above 1/8 Murray.
We can see on the H4 chart that the Euro is recovering after having reached a low of 1.0750 last week. If EUR/USD consolidates above 1.0800, it could continue its rise this week.
If the euro returns below 1/8 of Murray, we could expect the bearish cycle to resume. For that, we could sell with targets at 1.0780 and 1.0742.
Technically, the Eagle indicator is reaching overbought levels. So, we believe that if the Euro falls below 1.08, it will be seen as a signal to sell over the next few 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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