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Early in the American session, EUR/USD was trading around 1.0845, below 2/8 Murray, and below the 21 SMA showing a bearish signal. According to the H4 chart, it is likely that in the next few hours, the EUR/USD pair will continue its fall until it reaches 1/8 Murray around 1.0803 or around the low of October 16th around 1.0810.
In case the euro bounces above 1.0803, it could be seen as an opportunity to resume buying. In turn, the instrument would form a technical reversal pattern called a double bottom. This pattern would confirm the euro's recovery and we could look for opportunities to buy above 1.0803, with targets at 4/8 Murray around 1.10 or 200 EMA.
On the other hand, if the euro breaks and consolidates above 2/8 Murray, this could mean a recovery of EUR/USD and we could expect it to reach 3/8 Murray around 1.0925 and finally, 4/8 Murray around 1.0986.
The euro could break out of the bearish pressure if the price consolidates above 1.0870 in the coming days. Alternatively, if EUR/USD settles below this zone, the instrument could continue its decline.
*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।
