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Technical outlook:
EURUSD has turned lower from 1.2181 highs yesterday as bears might be preparing to take control back. The pair is expected to print another intraday low to the 1.2090/95 levels before finding some support again. It would be interesting to see if EURUSD attempts to print yet another high towards 1.2210/15 levels before turning lower again.
EUR is seen to be trading lower around the 1.2130 mark at this point in time. It is expected to print at least one low before pulling back higher again. Immediate short-term resistance is at 1.2181, followed by 1.2242 and higher, while support comes in around 1.1986 levels respectively. The down trend line is still being tested on the daily chart and not yet broken.
EURUSD remains in control of bears until prices stay below 1.2350 levels. The corrective rally that had begun on March 31, 2021, from the 1.1704 levels seems to be complete or close to termination. A break below 1.2030 will confirm that bears are back in control and are here to stay for long.
Trading plan:
Remain short, stop @ 1.2350, target @ 1.1300 and lower.
Good luck!
*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।
