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Early in the American session, the EUR/USD pair is trading around 1.0400 where the 21 SMA and the 200 EMA are located, acting as support.
On the H4 chart, we can see that the euro has been trading within an upward trend channel since January 10, but it is showing signs of exhaustion. Therefore, if EUR/USD consolidates below 1.0400 in the next few hours, we could expect it to continue falling.
The 6/8 Murray level located at 1.0498 acts as a strong resistance. In case the euro consolidates above 1.0400, it is likely to continue rising until the instrument reaches this area.
On the contrary, the 4/8 Murray support located at 1.0253 could offer good support to the euro if it falls below 5/8 Murray and below the 200 EMA which will be seen as a signal to sell.
The Eagle indicator is reaching an overbought zone. So, we believe that there will be a strong fall in EUR/USD in the next few days. The 1.0400 level could be a key level to sell.
*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।
