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EURUSD dropped through fresh swing lows at around 1.0139 during the Asian session on Friday. The single currency pair has quickly pulled back towards 1.0150 and is expected to resume higher from here. The short-term resistance is now seen at about 1.0192, while interim support seems strong close to 1.0130.
EURUSD seems to have completed its drop from 1.2350 to around 1.0339 or is close to terminating it. Either way, the downside remains limited from here as bulls are looking poised to push higher towards 1.0192 and 1.0614 in the near term. Ideally, the entire drop between 1.2350 and 1.0139 should be retraced in the next several weeks.
EURO bulls are expected to come back in control soon at 1.0152 and push prices towards the 1.0616 initial resistance marked on the daily chart. A break there would confirm that a meaningful bottom is in place at around 1.0139 and the trend has reversed. The bottom line for the above structure to hold is that prices should stay above 1.0130.
EURUSD carved a Star Doji candlestick pattern on the daily chart on Thursday. Prices are pulling back after printing lows at around 1.0139 on Friday as a Morning Star bullish candlestick pattern is expected to complete by the end of the day. The cornerstone of the above structure to hold is that prices should stay above the 1.0139 interim support.
Potential rally towards 1.0620 against 1.0000
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।
