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EURUSD has been drifting sideways for the past two trading sessions within 1.0400 and 1.0425-30 levels. Since the trading range is only 25 pips, a breakout can be expected within 1-2 trading sessions. The single currency pair is seen to be trading close to 1.0410 at this point in writing as the bulls prepare for a break higher towards 1.0550 in the near term.
EURUSD could be into its last sub-wave rally from the 1.0222 lows within the larger-degree corrective rally that began from the 0.9535 lows in August. The last wave is in progress from 0.9740 and is expected to terminate at the 1.0550-1.0600 area as projected on the daily chart. Immediate interim support is at 1.0222, followed by 0.9935 and 0.9740; while resistance is around the 1.0481 mark.
A push above 1.0481 will confirm and encourage a further rally towards 1.0600. Please note that 1.0600 is also passing close to the Fibonacci 0.382 retracement of a larger-degree downswing between 1.2266 and 0,9535 levels respectively. A high probability remains for a bearish turn if prices manage to reach there as the bears remain inclined to take control.
Potential rally towards 1.0550-1.0600 against 1.0222. Lower thereafter.
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।
