EURUSD – The Currency Pair Remains in Oversold Territory

15.04.2024

H4: The EUR/USD pair is in the oversold zone between the Murray levels (-2/8) and (-1/8). This indicates that in the short term, the pair may experience downward pressure.

In recent days, the EUR/USD pair has shown bearish dynamics, breaking the support level (0/8). This suggests that sellers maintain control over the pair and there is potential for further decline.

Therefore, our preferred scenario for today is a corrective rollback to the level (0/8). In the medium term, the downward direction of price movement remains a priority.

Trading decision: Buy at 1.2620, TP at 1.2715.