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The EUR/USD pair is currently consolidating below 1.1596 and has also fallen below the 2/8 Murray line, which suggests that EUR/USD may struggle to continue rising. If this scenario plays out, the euro could reach the 21-day SMA around 1.1570 and could even retreat toward the psychological level of 1.15 in the medium term.
The euro left a gap around 1.1560. It is likely that if the price consolidates below the 2/8 Murray line in the coming hours, we could expect it to fill this gap. This signal could be seen as an opportunity to open short positions.
If the instrument consolidates below 1.1570 in the coming hours, price action could drive the euro lower, and we could expect it to reach the 1/8 Murray support level around 1.1535.
Given that downward pressure is intensifying, and as long as EUR/USD consolidates below 1.1570, any technical rebound will be seen as an opportunity to sell in the coming days.
We should avoid selling the euro above 1.1625, as this could signal a decisive breakout from the downtrend channel and could mark the start of a new bullish sequence that could drive EUR/USD to reach May's highs around 1.1780.
*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।
