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Early in the American session, the EUR/USD pair is trading around 1.0721 and above the 3/8 Murray. The instrument is bouncing within the downtrend channel after reaching a low of 1.0666 which coincided with the bottom of this channel.
The euro has the possibility of a further rise in the coming days. So, any setback will be seen as an opportunity to buy. The first resistance can be found at 1.0742 (4/8 Murray). Above this level, the euro will likely gain strength and could break 5/8 Murray and the 200 EMA around 1.0800.
With a consolidation above 1.0803 on the daily chart, we could expect a sustained recovery of the euro and EUR/USD could reach 6/8 Murray 1.0864 and finally, the key level of 1.09.
Given that the eagle indicator is showing a positive signal and the euro is oversold, we believe that any pullback in the coming days will be seen as a signal to buy. The key is to keep in mind that if the euro carries on trading above 3/8 Murray, then the bullish outlook could still be valid.
*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।
