empty
14.12.2023 06:17 AM
Trading Signals for EUR/USD for December 14-15, 2023: sell below 1.0928 (6/8 Murray - 5/8 Murray)

This image is no longer relevant

Early in the European session, the EUR/USD pair is trading around 1.0907, reaching the price level of November 29th. Since November 23, the euro has been trading within a downtrend channel which was broken yesterday after the announcement of the Federal Reserve monetary policy meeting.

According to the H4 chart, we could see that the euro managed to bounce above the 4/8 Murray at 1.0742 and reach an area of 1.0907. This strong upward movement of the euro happened technically after a sharp break of the downtrend channel.

On the other hand, fundamentally, the euro rose following the decision of the Federal Reserve. The message is that there will be multiple interest rate cuts in 2024. This triggered an accelerated move in the euro which is likely to continue rising in the coming days but before, we expect a technical correction.

Given that the euro is now showing bullish signals, a technical correction is expected in the coming hours below the first daily resistance located at 1.0930. In case there is a pullback towards 1.0954, which acts as the first weekly resistance, this could be seen as a signal to sell with targets at 5/8 Murray located at 1.0864.

In the coming hours, the European Central Bank (ECB) will announce its monetary policy decision. So, there is likely to be strong volatility in the euro. A technical bounce around 1.0864 (5/8 Murray) or at 1.0850 which represents the daily pivot point, will be seen as a buying opportunity with the target of 6/8 Murray located at 1.0986.

In the coming days, the EUR/USD pair is expected to trade below 1.0986 and above 1.0850. This price range seen during November could give us an opportunity to sell or to buy. The eagle indicator is giving a positive signal, but we should wait for a technical correction to resume buying.

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

USD/JPY. Analysis and Forecast

The USD/JPY pair remains in a consolidation phase near a three-week high, supported by U.S. dollar strength and mixed market signals. The dollar is being bolstered by U.S. President Donald

Irina Yanina 12:17 2025-07-14 UTC+2

Technical Analysis for the Week of July 14–19: GBP/USD Currency Pair

Last week, the pair moved downward and broke below the 8-period EMA at 1.3509 (thin blue line), closing the weekly candle at 1.3487. In the upcoming week, the price

Stefan Doll 11:40 2025-07-14 UTC+2

Technical Analysis for the Week of July 14–19: EUR/USD Currency Pair

Last week, the pair moved downward and nearly tested the 23.6% retracement level at 1.1647 (blue dashed line), after which the price turned upward and closed the weekly candle

Stefan Doll 11:34 2025-07-14 UTC+2

Forecast for EUR/USD on July 14, 2025

On Friday, the EUR/USD pair rebounded from the 127.2% Fibonacci retracement level at 1.1712, reversed in favor of the U.S. dollar, and resumed its decline toward the 1.1645 level

Samir Klishi 11:31 2025-07-14 UTC+2

Forecast for GBP/USD on July 14, 2025

On the hourly chart, the GBP/USD pair on Friday consolidated below the 127.2% Fibonacci level at 1.3527 and continued its decline toward the next retracement level of 100.0% at 1.3444

Samir Klishi 11:25 2025-07-14 UTC+2

Cable still has the potential to continue its decline to its support level on Monday, July 14, 2025.

GBP/USD – Monday, July 14, 2025 GBP/USD is moving in a weakening condition where this is confirmed by its price movement below the 50-EMA, which is also below the 200-EMA

Arief Makmur 07:21 2025-07-14 UTC+2

The USD/CAD commodity currency pair has the potential to correct towards its pivot point today, Monday, July 14, 2025.

USD/CAD, July 14, 2025 Although the Lonnie is moving in a neutral-bullish position, there is potential for the USD/CAD commodity currency pair to test its pivot and support levels today

Arief Makmur 07:21 2025-07-14 UTC+2

EUR/USD Forecast for July 14, 2025

Friday's candlestick for the EUR/USD pair closed bearish, with the price consolidating below the daily MACD line. The objective for today is to secure a close below the 1.1692 level

Laurie Bailey 05:31 2025-07-14 UTC+2

GBP/USD Forecast for July 14, 2025

On Friday, the British pound lost more than 80 pips, breaking below the daily balance line and the key signal level at 1.3510. The decline was driven by weak

Laurie Bailey 05:31 2025-07-14 UTC+2

AUD/USD Forecast for July 14, 2025

On the daily chart, the AUD/USD pair is positioned between the MACD line (0.6551) and the upper boundary of the local price channel (blue, 0.6597). A breakout of either level

Laurie Bailey 05:31 2025-07-14 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.