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The euro reached a low of 1.1664, which coincided with the bottom of the downtrend channel. According to the H4 chart, the instrument might recoup some of the losses in the coming hours.
On February 27, the euro left a gap around 1.1820, and the euro will likely continue to rise in the coming days until it covers this gap. EUR/USD could even reach the 5/8 Murray around 1.1840.
If the EUR/USD pair consolidates below the 4/8 Murray, it could come under downward pressure. So, EUR/USD might continue its downward cycle and fall towards the key 3/8 Murray support around 1.1625.
Given that the euro has reached oversold levels, it is expected to make a technical rebound above 1.16 in the coming days, with a target at 1.1840.
Our plan for the coming days is to wait for the euro to cover the gap and then resume its downward cycle.
Meanwhile, if the price consolidates above Murray's 4/8, it will be seen as a clear signal to buy. Below 1.1718, the odds are for a decline.
*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।
