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Yesterday we saw a new high in the EUR/USD pair touching the 6/8 of murray at 1.2085, it could not consolidate above this level and we saw a fall of the euro-dollar, until the daily support of 1.2038, in the fundamental level, what supported this bullish rally was the weakness of the dollar together with the appetite for risk.
This morning of the American session for today Tuesday, December 2, we noticed that EUR/USD has left a fractal, since the last candles below 1.2085 have been very short and weak and short-bodied, which is likely to have a consolidation of a fractal in the next hours below 6/8 of murray, so we could expect a bearish movement below this level.
On the upside, EUR/USD, only if it exceeds 6/8 of murray and a daily close above 1.2085, our next target will be 7/8 of murray at 1.2146, however, the eagle indicator is in the zone of overbought, a correction of the pair to the 1.20 and 1.19 area is imminent in the coming days.
Our recommendation is to sell below 1.2085, only if the candles are weak and leave Dojis, it will be signal of a correction, on the other hand, below the 21-day EMA around 1.2060, we could expect a downward movement to immediate support at 1.2023.
Also, a sharp break below 1.2023 (5/8 murray) would increase the downward pressure, targeting up to the 200-day EMA at 1.1940. The eagle indicator is showing bearish signal for the next few hours.
The market sentiment for this morning of December 2 is showing that there are 75% are selling this pair, compared to yesterday's figure we saw an increase of 2% which in the short term the euro could continue trying to rise and break the levels 1.2140, but first we should wait for a correction in the pair to enter a new bullish wave.
Trading tip for EUR/USD for December 02 – 03
Sell if the pair pullback to zone 1.2082, with take profit at 1.2046 and 1.2023 (5/8 murray) , and stop loss above 1.2125
Sell if the pair Breakout 1.2023, with take profit 1.1962 and 1.1920 (EMA 200), Stop loss above 1,2065.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।