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Technical Market Outlook
The EUR/USD pair has bounced from the technical support seen at the level of 1.1830 after it felt out from the ascending channel. The rally from the lows at 1.1665 was capped at the level of 1.1908, which is the part of the supply zone and since then the market is moving lower. The next target for bears is seen at the level of 1.1804. The weak and negative momentum supports the bearish short-term outlook.
Weekly Pivot Points:
WR3 - 1.2067
WR2 - 1.1974
WR1 - 1.1938
Weekly Pivot - 1.1862
WS1 - 1.1815
WS2 - 1.1732
WS3 - 1.1667
Trading Outlook:
The bulls had tested the last high made after the breakout from the Falling Wedge pattern, but so far they failed to continue the rally. When this cycle scenario is confirmed by breakout above the level of 1.2000, the up trend can be continued towards the next long-term target located at the level of 1.2350 (high from 06.01.2021). However, for now, the market is in control by demand that might push the prices lower towards the key technical support located at 1.1599.
*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।
