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EUR/USD is trading above the 21 SMA and above the 200 EMA. We can see a recovery of EUR/USD after it has reached the low of 1.0720. The outlook could be positive for the euro if it manages to consolidate above 1.0803 in the coming days.
With a further bullish movement, the instrument could reach the top of the bearish trend channel around 1.0894, for which the euro should consolidate above 1.08. Then, any technical rebound will be seen as an opportunity to buy.
Once the level of 1.09 is exceeded, the outlook could be more positive for the euro and it could reach the psychological level of 1.10.
A drop below 1.08 could change the outlook for the euro and we could expect the bearish cycle to resume. Hence, EUR/USD could reach 1.0777 and finally, the key level at 1.0700.
The Nonfarm Payrolls will be released this Friday and could favor the Euro in case of poor employment data. As a result, the euro could rise to 1.0900. On the other hand, a figure above 212K that analysts expect could favor the US Dollar and as a result, could put downward pressure on the euro.
In the next hours, we can buy around 1.0803. In case there is a pullback, we can expect it to reach 1.0777. Both levels could be seen as a good buying opportunity.
*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।
