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Intraday bias in EUR/USD remains mildly on the downside as pull back from 1.2045 short term top is in progress. But downside should be contained by 23.6% retracement of 1.2045 to 1.2020 at 1.2013 to bring rebound.
The EUR/USD pair continues to move upwards from the level of 1.2045. Today, the first support level is currently seen at 1.2045, the price is moving in a bullish channel now.
Furthermore, the price has been set above the strong support at the level of 1.2045, which coincides with the 23.6% Fibonacci retracement level. This support has been rejected three times confirming the veracity of an uptrend.
According to the previous events, we expect the EUR/USD pair to trade between 1.2045 and 1.2150. So, the support stands at 1.2045 , while daily resistance is found at 1.2150 (major resistance).
Therefore, the market is likely to show signs of a bullish trend around the spot of 1.2045.
On the upside, break of 1.2065 will resume the rise from 1.2045 to 1.2082/1.2100 resistance zone.
In other words, buy orders are recommended above the spot of 1.2045/1.2065 with the first target at the level of 1.2098; and continue towards 1.2150.
However, if the EUR/USD pair fails to break through the resistance level of 1.2150 today, the market will decline further to 1.2003.
*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।
