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The euro is trading around 1.1711, below the Murray 4/8 level and under bearish pressure, and below the 21-period SMA, but approaching a key support level around the 200-period EMA.
If the euro remains below the Murray 4/8 level in the coming hours and trades below this zone, we could expect it to continue falling until it finds the important support level of 1.1673. This level could offer a technical rebound for the euro, and we could look for opportunities to open long positions.
Should the euro consolidate above the Murray 4/8 level, we could expect a recovery. However, EUR/USD will need to overcome the strong resistance of the upper band of the descending trend channel around 1.1745 and, in turn, break the 21-period SMA located around 1.1749.
If this bullish scenario occurs and the euro consolidates above 1.1750, we could expect it to return to the strong resistance of the 5/8 Murray level around 1.1840.
Should the bearish force prevail, we could look for opportunities to open short positions. If the euro encounters strong rejection around 1.1749, below the 21-period SMA, we could sell with targets at 1.1673, and we could even expect it to reach the 3/8 Murray level around 1.1596.
The eagle indicator is signalling a positive setup, so traders have an opportunity to buy the euro over the next few hours if the instrument consolidates above 1.1718.
*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।
