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The euro is trading around 1.1687, reaching the 200-day EMA and consolidating above this level after testing strong support. The euro could continue its fall in the coming hours, but we should watch for a drop below 1.1679, at which point we could sell.
If the euro rebounds above the 200 EMA in the coming hours, we could look to buy at the 4/8 Murray level around 1.1718 or near the top of the downtrend channel around 1.1730.
If the euro remains under downward pressure and consolidates below 1.1679, we could expect a strong technical correction, potentially reaching the 3/8 Murray level around 1.1506. EUR/USD could even continue its downward cycle until reaching the psychological level of 1.15.
Given that the indicator is reaching oversold levels, the euro will likely continue its rise from current price levels. Therefore, if EUR/USD consolidates above the 200 EMA, this could be considered a positive signal to buy.
A consolidation and a breakout above the downtrend channel and above 1.1820 could mark the start of the euro's recovery. As a result, EUR/USD could reach the 5/8 Murray level again around 1.1840.
*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।
