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28.03.201901:16 ফরেক্স বিশ্লেষণ এবং পর্যালোচনা: EUR/USD. March 27. Results of the day. The pair will again test the support area of 1.1200 - 1.1270

Long-term review

4-hour timeframe

Exchange Rates 28.03.2019 analysis

The amplitude of the last 5 days (high-low): 112p - 95p - 118p - 43p - 63p.

Average amplitude for the last 5 days: 86p (79p).

The only event of the day that could attract the attention of traders of the EUR/USD pair was ECB Head Mario Draghi's speech in Frankfurt. No one hoped this speech will affect monetary policy and turn out "hawkish". At best, it could be neutral. But in practice, Draghi again spoke of the "persistent deterioration in external demand," "high uncertainty," "risks that have grown in recent months," and "maintaining the ECB's position at rates until at least the end of 2019". Question: which of the above could somehow support the euro currency? The euro slightly rose at the beginning of the European trading session, but after a few hours, it began a much more logical fall, based on Draghi's rhetoric. Today, we believe the European currency's decline was reasonable. However, in general, despite all of eurozone's problems, we continue to insist that the fundamental factors of the dollar and the euro have been levelled off recently. Now the US dollar's position does not appear unconditional. Thus, from our point of view, the pair retains good chances for starting the formation of an upward trend in the near future. However, of course, it is not worth wondering exactly when it will begin and whether it will start. It is better to wait for specific signals from the Ichimoku indicator or other technical indicators. Until then, there is a high probability that the euro will further fall. The pair, by the way, fell again to absolute lows over the past year and a half. Will it manage with its eighth attempt to overcome the area of 1,1200 - 1.1270?

Trading recommendations:

The EUR/USD pair continues to move down. Thus, now, short positions are still recommended for the target of a support level of 1,1234, and in case the first target has been overcome - for the target of 1,1166. However, it is not a fact that traders will be able to overcome the support area mentioned above.

It is recommended to consider long positions only when the pair manages to consolidate back above the critical line, with a view to the resistance level of 1.1409.

In addition to the technical picture should also take into account the fundamental data and the time of their release.

Explanation of illustration:

Ichimoku Indicator:

Tenkan-sen – red line.

Kijun-sen – blue line.

Senkou span a – light brown dotted line.

Senkou span B – light purple dotted line.

Chikou span – green line.

Bollinger Bands Indicator:

3 yellow lines.

MACD:

A red line and a histogram with white bars in the indicator window.

*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।

Paolo Greco,
ইন্সটাফরেক্সের বিশ্লেষণ বিশেষজ্ঞ
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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।

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