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Early in the American session, EUR/USD is trading around 1.0315, above the 21 SMA, and below the top of the downtrend channel with a positive bias. If a sharp break of this channel occurs, we could expect the euro to reach the 200 EMA located at 1.0395. The instrument could reach even the 6/8 Murray around the psychological level of 1.05 in the next few days.
If the euro consolidates above 1.0320 in the next few hours, it will be seen as a signal to buy with targets at 5/8 Murray at 1.0385 and 1.0395. The 200 EMA acting as a strong resistance could prevent the euro from a further rise. Once the price is below this area, it could be seen as an opportunity to sell.
On the other hand, if the euro consolidates below 1.0298, we could see the resumption of the bearish cycle and the euro could reach 3/8 of Murray at 1.0131 in the next few days.
The key thing to watch in the coming hours is that the price of the euro remains above 1.0300. Above this area the outlook will be positive, but below this the bearish cycle will resume.
*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।
