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EUR/USD is trading around 1.1845. During the US session, it reached the 200 EMA zone around 1.1800, and since then, we have seen a recovery in the euro.
However, EUR/USD could struggle to continue rising, as the upper band of the downtrend channel and the 21 SMA are acting as strong resistance.
If the euro resumes its bearish cycle, we can open short positions from current price levels with targets towards the 200 EMA around 1.1802, the bottom of the downtrend channel around 1.1760, and finally at the 4/8 Murray around 1.1718.
In case of a sharp breakout of the downtrend channel and consolidation above 1.1855, the outlook could be positive for the euro, and we could expect it to reach the 6/8 Murray around 1.1962 in the coming days.
The H4 chart shows that the Eagle indicator has reached overbought levels, so we should wait for confirmation. If the price falls below the 5/8 Murray, it could be seen as a signal to sell.
Over the next few days, the euro is expected to continue consolidating within a range below 1.1962 and above 1.1805.
*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।
