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EUR/USD is trading around 1.0975 with a strong bearish movement after the release of the US NonFarm Payrolls data. It is putting pressure on the euro.
Technically, we see that the euro is oversold. So, we believe that a recovery could occur above the psychological level of 1.10 in the next few days.
Since the euro is now consolidating below 4/8 Murray, a technical bounce around this area is probable. The Eagle indicator reached the 5-point zone which represents an imminent bounce.
The euro could enter a bullish phase only if it breaks sharply from the downtrend channel forming since September 25 and consolidates above the 21 SMA around 1.1050.
On the other hand, EUR/USD is currently trading above 1.0940. It will be seen as an opportunity to buy as technically, we expect the euro to reach the levels, seen before the release of the NFP data around 1.1040, by next week.
*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।
