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EURUSD might have carved a meaningful bottom around 1.1186 low on Wednesday or it could carve a bottom soon. The single currency pair has bounced off higher through 1.1225-30 zone at the time of writing and might continue higher. Bulls have been successful to defend support around 1.1160 mark as highlighted on the daily chart for now.
Immediate price resistance is seen around 1.1385 while support is at 1.1160 levels respectively on the daily chart. A break above 1.1385 will confirm that bulls are back in control and are poised to target 1.1700 resistance. High probability remains for a bullish trend reversal from here since it is around the Fibonacci 0.618 retracement of the entire rally between 1.0636 and 1.2350.
The overall structure continues to remain bullish until prices stay above 1.1000 mark,which is fibonacci 0.786 retracement of the above rally. A bullish reversal candlestick pattern here, will be much encouraging to push prices higher.
Potential to rally through 1.2350, against 1.1100-1.1150
Good luck!
*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।
