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EUR/USD is trading around 1.1474, below the 21-month SMA under bearish pressure, showing a slight recovery but pointing to a deeper decline in the short term.
The outlook remains negative for the euro, as rising oil prices could pressure the European currency. In turn, we could expect EUR/USD to reach the 6/8 Murray level at 1.1230.
On the other hand, investors view the US dollar as a safe-haven asset, and this could further pressure the euro. Therefore, we must be cautious if we are buying, as a strong technical correction could occur in the coming days.
According to the H4 chart, a sharp break below the 200-month EMA at 1.1379 could signal the end of the uptrend, and we could expect a drop that could cover the gap left on May 13 around 1.1180. EUR/USD could even reach the psychological level of 1.10.
Our outlook for the euro is bearish, so any rebound while the price trades below 1.1535 will be seen as a selling 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।
