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EUR/USD is trading at 1.1949 within the trend channel formed since January 9 and consolidating within this channel, awaiting a technical rebound during which the instrument could reach the 7/8 Murray around 1.2085.
If the euro consolidates above the 6/8 Murray located at 1.1962, this could be seen as a positive sign, and we could expect EUR/USD to reach 1.2085 or even the top of the uptrend channel around 1.2170.
Conversely, a sharp break of the uptrend channel and consolidation below 1.1890 could be a critical scenario for the euro. Below this level, EUR/USD could reach the 4/8 Murray around 1.1718 and finally the 3/8 Murray at 1.1596.
Given that the euro is overbought, we could look for an opportunity to open long positions only if EUR/USD consolidates above the 21 SMA and above the 6/8 Murray.
Since the Eagle indicator is showing a negative signal, we could perhaps expect a technical rebound towards the resistance zone of 1.2000 or 1.2025. Then, both levels could be a point to enter short positions.
*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।
