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Technical Market Outlook:
The EUR/USD pair has given away all the gains made on Friday during the NFP-Payrolls data release and is currently trading at the level of 1.0695, which is the 50 MA dynamic support level. Any breakout below this level would sustain the bearish outlook and put the level of 1.0636 for a test (swing low). The weak and negative momentum supports the short-term bearish outlook for EUR. The intraday technical resistance is seen at 1.0780.
Weekly Pivot Points:
WR3 - 1.07335
WR2 - 1.07121
WR1 - 1.06983
Weekly Pivot - 1.06907
WS1 - 1.06769
WS2 - 1.06693
WS3 - 1.06479
Trading Outlook:
Since the beginning of October 2022 the EUR/USD is in the corrective cycle to the upside, but the main, long-term trend remains bearish. This corrective cycle might had been terminated at the level of 1.2080 which is 61% Fibonacci retracement level. The EUR had made a new multi-decade low at the level of 0.9538, so as long as the USD is being bought all across the board, the down trend will continue towards the new lows.
*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।
