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EUR/USD is currently trading around 1.1443, above the 21-day SMA and rebounding within the uptrend channel formed since July 13.
If the euro consolidates above 1.1438 in the coming hours, we could expect it to continue rising until it reaches 1.1472, where the 6/8 Murray level is located. Ultimately, EUR/USD could reach the upper band of the uptrend channel around 1.1520.
Conversely, if the euro falls below the 21 SMA at 1.1438, the outlook could turn negative, and we could expect the downtrend to continue until EUR/USD reaches the lower band of the uptrend channel and, ultimately, the 5/8 Murray level around 1.1352.
If the euro faces strong resistance around the 200 EMA at 1.1472, this could be considered an opportunity to open short positions. The strong Murray 6/8 resistance level is also located around this level, which could act as a significant barrier for the euro.
Given that the Eagle indicator is entering overbought territory, we could technically expect the instrument to continue falling in the coming days. Should EUR/USD reach resistance levels such as the 6/8 Murray level or the upper band of the uptrend channel, this could suggest an opportunity to sell.
*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।
