EUR/USD Technical Outlook: Bearish Momentum Below 1.1222

EUR/USD Technical Overview

The EUR/USD pair is trading near 1.1195, remaining under persistent selling pressure below its 21-period Simple Moving Average (SMA) on the four-hour (H4) chart. The currency pair continues to move within a defined downtrend channel, signaling weakening momentum and suggesting the potential for further downside in the near term.

Key Murray Math Levels and Resistance

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From a technical standpoint, the euro is oscillating beneath the 0/8 Murray level positioned at 1.1222. The pair's failure to reclaim both this Murray pivot and the 21-day SMA reinforces a predominantly bearish bias across the lower timeframes.

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Downside Targets and Support Levels

Initial downside target rests at the -1/8 Murray support level near 1.1163. If negative momentum intensifies, a break below this handle could clear the path toward the key technical support level at 1.1108, which represents the swing low established on October 14.

Trading Strategy and Indicators

Corrective pullbacks toward the 1.1222–1.1230 region, where the 0/8 Murray level and 21 SMA converge, offer potential opportunities to initiate short positions. Meanwhile, the Eagle indicator on the H4 chart resides in overbought territory, further validating the probability of a continued decline over the October 23–26 trading period.

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