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EUR/USD is trading around 1.1638, below the 21 SMA and within the downtrend channel formed since December 22. On the H4 chart, we can see that EUR/USD is under bearish pressure and is likely to continue falling in the coming days until it reaches the 2/8 Murray located at 1.1596.
The euro attempted to break through the top of the downtrend channel, which coincided with the 200 EMA, acting as a strong barrier. From that level, we are seeing a technical correction.
If the euro reaches 2/8 Murray or the bottom of the downtrend channel in the coming hours, we could expect this area to be a good point to open long positions, as the instrument is technically reaching exhaustion levels and a recovery is likely to follow.
If the euro consolidates above the 3/8 Murray located at 1.1657, we could expect an upward movement so that EUR/USD could reach the 200 EMA around 1.1685. If there is a sharp break in the downtrend channel, we could expect it to rise quickly and reach the 5/8 Murray at 1.1779 and finally the 6/8 Murray at 1.1840.
Our outlook is bullish for the euro in the coming days, so we will look for opportunities to buy around 1.1596 or in the event of a recovery above 1.1657.
*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।
