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Early in the European session, the euro was trading around 1.0409 within the downtrend channel forming since early December, above the 21 SMA, and below the 2/8 Murray.
The euro is in a downtrend channel. If it consolidates below 1.0409 in the next few days, it is likely to reach the 0/8 Murray located at 1.0253.
On the other hand, in case of a sharp break above the downtrend channel and consolidation above 1.0420, we could expect a trend reversal to occur and the euro could reach 1.0498 and even the 200 EMA around 1.0535.
The key thing to keep in mind is that the euro has good support around 1.0376. We could expect a technical bounce above this area to take EUR/USD towards 3/8 of Murray located at 1.0620. On the contrary, below this key level, we could expect the euro to fall to 1.0253.
The Eagle indicator is showing a negative signal, so we will wait for a confirmation to sell below 1.0390.
*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।
