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The euro is trading around 1.1437, above the 21-day simple moving average (SMA), and is rebounding after finding strong support around that average, following Tuesday's intraday high of around 1.1462 during the US session.
If the euro consolidates above 1.1417 in the short term, it could be expected to continue rising until it reaches the 200-day EMA, around 1.1476.
If the euro reaches the strong 6/8 Murray resistance level, around 1.1475, and also touches the 200-day EMA, we could view this area as a potential opportunity to open short positions, since, technically, it could act as a strong barrier for the euro, and we could expect it to fall to the 5/8 Murray level.
Given that the Eagle indicator shows a negative signal and, in turn, if the euro falls below 1.1417, EUR/USD could continue to decline until it reaches the lower band of the uptrend channel, around 1.1385.
Technically, the euro is likely to continue trading within the uptrend channel in the coming days, so a zone to open short positions could be 1.1476, and a zone to open long positions would be 1.1380. A rebound above the 5/8 Murray level could signal a buying opportunity.
*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।
