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02.06.2025 06:38 PM
EUR/USD is trading around 1.1437, below the Murray 6/8 level and within the uptrend channel formed on May 9.
The instrument has an area where buyers have found it easier to take profits around 1.1476. This level could be a barrier for the euro, and from there we could expect a technical correction.
If the bullish force prevails, the euro could reach the top of the uptrend channel around 1.1474 and even the psychological level of 1.1500.
Technically, we observe that the euro is overbought and there could be a technical correction in the coming days, as crucial data from the United States will be released later this week, which could generate strong volatility in the market.
The eagle indicator is showing a negative signal, so if an additional upward movement occurs above the current price, we could consider selling as long as the intrument consolidates below 1.1500.
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