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The euro is trading around 1.1529, below the 21-day SMA and the 200-day EMA, under strong downward pressure. EUR/USD is likely to continue falling in the coming days until it reaches the lower band of the uptrend channel at 1.1450.
During Wednesday's US session, the euro traded below the 200 EMA, attempting to consolidate in this area but without success. Once it broke below this level, a strong technical correction was observed, and it is likely to continue falling in the coming days, as technical levels suggest a deeper decline toward the 1/8 Murray levels around 1.1352.
If, in the coming hours, the euro consolidates above 1.1530—where the 21 SMA is located—it could present an opportunity for a technical rebound and could be viewed as a bullish signal. If this scenario plays out, we could buy with targets at 1.1596, and if it breaks above this level, it could reach the top of the uptrend channel around 1.1665.
Conversely, at current price levels, we could continue selling EUR/USD if downward pressure prevails; a technical bounce toward 1.1590–1.1596 could be seen as a signal to trade following the downtrend, with targets at the 2/8 Murray line around 1.1474.
The Eagle indicator is showing a negative signal, so a technical rebound toward the 1.1590 level—or as long as the euro trades below this zone—will be seen as an opportunity to sell in the coming days, with targets at 1.1350.
*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।
