The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
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Early in the American session, the euro is trading around 1.1752, bouncing back after finding good support around 1.1718.
Last week, the euro sharply broke out of the uptrend channel and is now showing signs of exhaustion. We believe the euro could fall to the 200 EMA at 1.1636 in the coming days.
A consolidation below the 21SMA at 1.1750 could fill the gap left around 1.1735. If bearish pressure prevails, we could expect a drop to reach the 8/8 Murray at 1.1718 and eventually reach the 200EMA around 1.1636.
Conversely, if the euro consolidates above 1.1750 in the coming days, it could continue to recover and is likely to reach +1/8 Murray at 1.1840.
According to the H4 chart, the euro is likely to undergo a strong technical correction in the coming days, as recent trading since July 21 is showing signs of exhaustion. A head-and-shoulders pattern is likely forming, which means a strong technical correction could occur in the coming days.
Key support levels to watch for the euro are 1.1750, 1.1718, and finally 1.1636. Key resistance levels are 1.1780, 1.1815, and 1.1840.
*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।
