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Early in the American session, the euro was trading around 1.0693, below 8/8 Murray. During the European session, the euro reached a weekly high around 1.0722, the level last seen last year in November.
If the euro continues to rise above 1.0680 in the next few hours, which represents good support, EUR/USD could reach the strong resistance of 1.0742. This level is worthy of attention as it coincides with the top of the uptrend channel.
Concerns about an economic recession in the United States caused a massive sell-off in the dollar, which favored the euro reaching resistance levels.
On the H4 chart, we can see that EUR/USD left a gap around 1.0375. This level could draw the euro since the gap has not been covered yet.
The Eagle indicator has reached overbought levels. If the euro trades below 1.0742 in the next few days, it will be seen as a signal to sell, with targets at 1.0620, at the psychological level of 1.0500, and finally at 2/8 Murray located at 1.0376 (GAP).
On the H4 chart, we can see that EUR/USD is showing signs of exhaustion. A technical correction is likely to occur in the coming days, so we will look for opportunities to sell below 1.0750.
*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।
