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Early in the American session, the euro is trading around 1.0908 above +1/8 Murray and reaching the levels of October 2,024.
During the start of trading on Tuesday, the euro regained strength and is now reaching the 1.0939 zone, a strong resistance level.
It is likely that EUR/USD could reach the October 2024 high around 1.0939 and could finally reach +2/8 Murray located at 1.0986.
On the daily chart, we can see that the euro is showing overbought signals. So, a technical correction is expected in the next few days below 1.0939, with targets at the 200 EMA located at 1.0619.
In case EUR/USD consolidates above 1.0864, any technical bounce will be seen as an opportunity to continue buying in the next few days, with targets at 1.0986.
On the contrary, a drop below 1.0860 could lead to a strong technical correction with targets at 1.0620 and 1.0500 (6/8 Murray).
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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