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EUR/USD is trading around 1.1907 within the uptrend channel formed since February 6 after reaching the 200 EMA. The euro is showing signs of exhaustion. As we pointed out yesterday, it is approaching the 61.8% Fibonacci retracement around 1.1962.
If the euro reaches the strong 6/8 Murray resistance located at 1.1962, it could be seen as a good point to resume short positions, with targets around the 4/8 Murray located at 1.1718.
Another scenario could be that if the euro consolidates above 1.1970 above 6/8 Murray, we could expect a continuation of the upward movement, and EUR/USD could reach the psychological level of 1.20.
If EUR/USD exceeds 1.20, it could reach the 7/8 Murray around 1.2085 and finally the upper band of the uptrend channel formed since early January around 1.2190.
The Eagle indicator is showing a negative signal, so we could expect a strong resistance zone below the 6/8 Murray to sell the euro with targets at the 5/8 Murray and finally, at the 4/8 Murray.
*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।
