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The euro is trading around 1.1680, after posting a strong upward move over the past 24 hours and breaking above the uptrend channel that has been forming since late July. EUR/USD could reach a strong resistance zone around 1.1718.
If the euro reaches 1.1718 in the coming hours, we could consider this area a strong resistance level for opening short positions, and we expect it to reach the Murray 6/8 level, around 1.1596, in the coming days.
On the other hand, on the H4 chart, we can see that the euro is trading around the Murray 7/8 level, which represents a strong technical reversal; if the price consolidates below 1.1680, it could be interpreted as a clear sell signal. A decline is expected until the Murray 6/8 level, around 1.1596; ultimately, we expect EUR/USD to consolidate around the Murray 5/8 level, at 1.1535.
Given that the euro has reached overbought levels on the daily chart, we could technically sell below 1.1680 with a stop-loss above the Murray 8/8 level, and we believe it could reach 1.1657 and 1.1630 in the coming hours.
*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।
