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EUR/USD has dipped below 1.19, hitting a new 2021 low. Yields of US ten-year Treasuries have resumed their gains toward 1.60% after robust US nonfarm payrolls and the Fed's reluctance to intervene. German industrial output disappointed with -2.5% in January.
From a technical point, the pair closed below 1.1945 on Friday, marking a downside break of the 23.6% Fibonacci retracement of the rally from 1.0636 to 1.2349. EUR/USD is diving further below the 1.1900 psychological level, approaching the lower surface of the upward sloping channel.
A successful fall beneath the ascending channel could take the price towards the 1.1745 support ahead of the 38.2% Fibonacci retracement level . Beneath these lines, the 1.1610 support and the 50.0% Fibonacci of 1.1490 could come next.
On the other hand, if the bulls take the upper hand again and rebound off the lower band of the channel or at 100% fibonacci extension at 1.1850 .The price could make a pullback towards the 1.1940-1.1960 significant support resistance region coincides with the 23.6% Fibonacci. Moreover, this supports the bias as the stochastic is hovering in the oversold territory.
*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।
