FX.co ★ Trading Signals for EUR/USD on April 5-7, 2026: sell below 1.1550 (21 SMA - 3/8 Murray)

The EUR/USD pair is trading around 1.1514 under downward pressure after attempting to consolidate above the 21-day SMA; it has now fallen back below this level and could continue to decline in the coming days until it reaches the 2/8 Murray level at 1.1474.

Given that most banks are closed for the Easter holiday, euro movement is relatively limited, and it is expected to consolidate in the coming hours until around 1.1500 next week.

If the euro resumes its uptrend in the coming days and consolidates above 1.1550 (21 SMA), we could expect it to reach the 200 EMA around 1.1600. If EUR/USD breaks above this level, it could reach the upper band of the uptrend channel around 1.1665.

Given that the euro is under downward pressure, it is expected that as long as EUR/USD trades below the 21 SMA, it could continue to fall and reach the lower band of the downtrend channel. So, grab an opportunity to open short positions.

In case of a pullback toward 1.1600, and if the euro struggles to continue rising above this zone, it could be considered an opportunity to open short positions with a target at 1.1474.

The Eagle indicator is showing a negative signal, so the euro is expected to remain under downward pressure over the next few days.