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Early in the American session, the EUR/USD pair is trading around 1.0438, above the 200 EMA, and above 5/8 Murray with a bullish bias.
On the H4 chart, we can see that the euro has continued its rise since it sharply broke the uptrend channel, but is now showing consolidation. Therefore, EUR/USD is likely to reach 6/8 Murray at 1.0498 in the next few days and could even reach 7/8 Murray at 1.0620.
Below the 21SMA and below 5/8 Murray, the outlook could turn negative for the euro. So, EUR/USD could return below the bearish channel to reach 4/8 Murray at 1.0253. The price could even fall towards the low of 1.0131.
The eagle indicator is showing an overbought signal. Hence, after a technical correction in the next few hours, the euro could resume its bullish cycle. In the meantime, we will look for opportunities to sell below 1.0457 with the target at about 1.0360.
*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।
