The EUR/USD pair is trading around 1.1377, rebounding after hitting a low of 1.1362 on the H4 chart. Looking at the chart, we can also see that it has formed a triple-bottom pattern, so we believe that it could rebound and reach the 200 EMA around 1.1447 in the coming days.

The euro faces strong resistance around 1.1395, so if it reaches this level in the coming hours and fails to break through, it could be seen as a signal to sell, with 5/8 Murray targets around 1.1352.

A decisive break above the downtrend channel and consolidation above 1.1400 could be seen as a positive signal for the euro, and we could expect EUR/USD to reach the 200 EMA around 1.1447 and ultimately the 6/8 Murray level around 1.1474.

As long as EUR/USD trades above the 5/8 Murray level or above 1.1363, the outlook will remain positive, and we could add long positions. A stop-loss below 1.350 could be a level to consider, as it would signal that the euro could continue its downward trend.