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 European session, the EUR/USD pair is trading around the 2/8 Murray and within the uptrend channel formed since January 18. The H4 chart shows a negative bias, and the euro is likely to continue falling in the coming days.
The euro reached its psychological level of 1.20, exceeding that level to reach the 7/8 Murray around 1.2085. The euro encountered strong resistance below 1.21 and is now falling. The technical correction is likely to continue in the coming days and could reach the lower band of the uptrend channel around 1.1876.
Given that the euro is trading within the bullish channel, yesterday during the American session, EUR/USD reached 1.19. From that level, it made a technical rebound, which leads us to the conclusion that the euro could continue its rise in the coming hours.
If the price consolidates above the 6/8 Murray located at 1.1962, then it could return to the psychological level of 1.20 and finally reach the 7/8 Murray at 1.2085.
A consolidation below Murray's 6/8 could mean a continuation of the downward movement and, in turn, a sharp break in the upward trend channel, which could see the euro return to the 200 EMA located at 1.1729.
The Eagle indicator is showing a negative signal, so we expect the euro to resume its technical correction in the coming hours after a technical rebound.
*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।
