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Technical outlook:
EURUSD has one again rallied through 1.2160/65 zone, looking to re-test the previous high at 1.2181 levels registered on May 11, 2021. It would be interesting to see if bears are able to hold below 1.2181 levels going forward. The resistance zone is seen between 1.2185 and 1.2210 levels respectively, which is also fibonacci 0.786 retracement of the earlier drop between 1.2350 and 1.1704 levels respectively.
EURUSD is seen to be trading around 1.2164 levels at this point in writing and might be looking to test the recent swing highs around 1.2181/85 zone. A failure to break above 1.2181 would be considered extremely favorable for bears and could attract a sharp reversal. Immediate resistance is seen at 1.2242, while support comes in around 1.1986 levels respectively. A break below 1.1986 is required to confirm that bears are back in control.
EURUSD larger trend might have turned lower since 1.2350 highs registered on January 06, 2021. A minimum drop to 1.1300 levels remain possible, if not further. Bears are expected to be back soon and drag prices below 1.1986 to confirm a reversal. Only a break above 1.2350 will change the structure.
Trading plan:
Remain short, stop above 1.2350, target below @ 1.1300
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।
