Euro vs Bangladeshi Taka slides slightly after strong selling pressure and lack of fresh news

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Euro vs taka slips 0.48% today

Highlights

EUR/BDT trades below its major moving averages, confirming persistent bearish momentum across short, medium, and long timeframes.
Technical indicators show strong downside pressure with the market in oversold territory and sellers in control intraday.
Near-term forecast sets an expected range of BDT136.771 to BDT138.145 for the next five sessions with over 80% probability of continued decline.

Anton Kharitonov, expert at Traders Union, sees EUR/BDT locked in a strong technical downtrend. He notes the pair is trading below all major moving averages, confirming bearish momentum across timeframes. Kharitonov highlights the lack of positive market catalysts and signals from momentum indicators like MACD and ADX that further declines are likely. He cautions that oversold readings suggest sellers are still in control, though short-term volatility could intensify. "Until a significant reversal signal emerges, I view the downside as dominant and rebounds as highly unreliable," warns Kharitonov.

Viktoras Karapetjanc, expert at Traders Union, remains constructive on the market’s potential for volatility-driven opportunities. Despite prevailing bearish signals, he believes the oversold conditions and compressed intraday ranges could soon give way to active setups for agile traders. Karapetjanc points to the volatility band between BDT136.771 and BDT138.145 as offering a defined trading framework. He emphasizes, "I expect market participants to find actionable setups as ranges tighten and a decisive move grows likely."

Sholanke Dele, market strategist, underscores lingering negative sentiment around EUR/BDT. He points to the absence of positive news and persistent selling pressure as reinforcing caution. Dele observes that sellers maintain firm control despite short-term oversold signals. "I see no signs of confidence or demand returning soon — the risk bias remains tilted to the downside," says Dele.

Sustained technical weakness as selling pressure aligns with bearish signals

EUR/BDT remains below its 20-, 50-, and 200-day moving averages at BDT139.426, BDT141.341, and BDT142.002, signaling persistent downward pressure in short-, medium-, and long-term trends. The pair is trading near recent lows, with a near-term ceiling at BDT137.702 and a floor at BDT137.361. Medium- and long-term trend confirmation is bearish given the MA-50 versus MA-200 alignment and resistance set by the Ichimoku Kijun at BDT140.434. Momentum indicators including MACD and ADX favor continued downside, while RSI at 30.37, Stochastic RSI at 90.867, and CCI at -84.031 signal oversold conditions with intraday sellers dominating. Bull/Bear Power is at -0.332, and intraday volatility stands at 0.43%.

Previously it was reported that Bangladesh expanded the utility of Non-Resident Convertible Taka Accounts to provide overseas Bangladeshis greater flexibility in managing local-currency funds while enabling banks to leverage these deposits for domestic lending. The current technical breakdown in EUR/BDT further highlights the importance of monitoring key support levels, with a sustained move below BDT136.771 likely to heighten downside risk and impact cross-border fund management strategies.

Source of Data: EUR Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

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