05.10.202619:57 Forex Analysis & Reviews: Trading Signals for EUR/USD on October 5-8, 2026: buy above 1.1170 (21 SMA - +1/8 Murray)

Relevance up to 17:00 2026-10-19 UTC+00

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

The euro is trading around 1.1192, rebounding after reaching the +1/8 Murray level, which also represents a strong support level in an oversold condition.

The euro hit a low of 1.1165 and has been rebounding since then. We could expect EUR/USD to recover in the coming days, as the daily chart shows that a downtrend began on August 16 from its high of 1.1713, and so far we have not seen a significant technical correction.

If the euro consolidates above 1.1170 in the coming days, this could be considered a buy signal with targets at the 0/8 Murray level around 1.1230, and ultimately, we could expect EUR/USD to reach the 2/8 Murray level around 1.1352.

In the coming days, we could expect the euro to consolidate around 1.1170 above the +1/8 Murray level; alternatively, if the price rebounds and consolidates above the 0/8 Murray level, this could be viewed as a positive signal only if the currency pair consolidates above 1.1230.

Given that the euro is under downward pressure, we should expect a technical rebound before resuming short positions, as there could be a technical rebound in the coming days. So, it is better to wait for consolidation before taking long positions.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.