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Early in the European session, the EUR/USD was trading around 1.0532 within the downtrend channel forming since November 6th and below the 21 SMA with a bearish momentum but showing signs of its exhaustion. In the next few hours, the EUR could make a bearish correction to reach last week's lows.
If the euro falls and reaches 2/8 of Murray around 1.0498 in the next few hours, it could confirm the formation of a double bottom pattern and this could be seen as an opportunity to buy with targets in the 1.0563 area.
Besides, a sharp break above the 21 SMA, a consolidation above this area, and a sharp break of the downtrend channel will set the stage for a bullish sequence in the short and medium term.
If this scenario occurs, the euro could reach 3/8 Murray around 1.0620 and eventually the 200 EMA around 1.0805.
Since November 15, the Eagle indicator has been showing oversold signals. Hence, we believe that a technical bounce off above the psychological level of 1.0500 in the next few hours could be seen as a signal to resume buying.
*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।
