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05.05.2025 05:34 PM
Trading Signals for EUR/USD for May 5-8, 2025: sell below 1.1370 (200 EMA - 6/8 Murray)

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Early in the American session, the EUR/USD pair is trading around 1.1345, reaching the top of the downtrend channel and showing signs of exhaustion.

The euro could resume its bearish cycle if it consolidates below 1.1370 in the coming days. It could then reach the 6/8 Murray level at 1.1230 and eventually reach the 200 EMA around 1.1161.

On the other hand, if the instrument breaks and consolidates above 1.1400, we could expect it to continue rising to reach the 7/8 Murray level at 1.1474. Eventually, EUR/USD could reach the 8/8 Murray level at 1.1718.

The outlook remains negative for the euro, and we believe it could reach the psychological level of 1.10 around the 5/8 Murray level in the short term.

The Eagle Indicator is showing a negative signal, and we will look for selling opportunities while the euro price remains below 1.1400, with a short-term target at 1.0986.

Dimitrios Zappas,
Analytical expert of InstaForex
© 2007-2025
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