Euro vs Bangladeshi Taka drops over 1% after persistent selling pressure below moving averages

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Euro vs taka slides 1.2% today

Highlights

EUR/BDT remains below major moving averages, indicating a persistent bearish trend across short and long timeframes.
Momentum indicators give conflicting signals, with MACD indicating buy momentum but ADX maintaining a sell trend and neutrals elsewhere.
Expected five-day range is BDT137.172 to BDT139.665, with a 68% probability of sideways to upward movement near current levels.

Anton Kharitonov, expert at Traders Union, sees persistent downside risk in EUR/BDT as bears remain in full control of momentum and price structure. Technical signals are mostly negative, with alignment below major moving averages confirming sellers’ dominance and undermining prospects for a near-term reversal. The lack of any supportive news flow removes a potential catalyst for sentiment improvement or fresh institutional support. Oscillator neutrality offers no comfort, as the broader pattern and failed upside attempt reinforce vulnerability. Kharitonov warns, "Current conditions demand caution — without a structural narrative or supportive data, more downside or listless consolidation is the likeliest path."

Viktoras Karapetjanc, expert at Traders Union, remains constructive despite the recent dip in EUR/BDT. He notes the market continues to offer multiple entry setups within technical ranges and that mixed momentum signals still leave room for opportunistic bullish plays if BDT139.665 is reclaimed. The current neutral stance on oscillators supports the case for renewed upward action should sentiment shift. Karapetjanc states, "Bullish structure remains possible here — I expect further growth if key resistance is cleared and volatility persists."

Jainam Mehta, market strategist, views the technical divergence with caution but spots tactical trading opportunities. The ongoing sideways consolidation near major support and resistance may appeal to range traders looking for quick, contrarian plays. Mehta adds, "A breakout above BDT139.665 or below BDT137.172 could signal the next directional move — I would watch for momentum shifts around these levels."

Mixed momentum as bearish structure meets neutral oscillators

EUR/BDT trades below the 20-day, 50-day, and 200-day moving averages (BDT138.95, BDT139.162, and BDT141.557, respectively), indicating persistent pressure from sellers across all timeframes. The near-term ceiling is established at BDT138.232, derived from the Ichimoku Kijun resistance, while support is marked at BDT137.172. The alignment of the 50-day and 200-day moving averages confirms a longer-term bearish structure. Momentum signals remain mixed: MACD suggests nascent buy momentum but is contradicted by the ADX, which points to a prevailing sell trend. Key oscillators including RSI, Stochastic RSI, and CCI rest in neutral territory, indicating the absence of immediate overbought or oversold risk, and Bull/Bear Power is positive, reflecting intraday buying dominance. Price action has slipped BDT1.678 or 1.2% and opened nearly flat, with trading near the day's low. Intraday volatility registers at 1.01%, and the overall tone continues to show pressure after the open, with some indicator divergence.

Earlier, analysts noted that Euro vs Bangladeshi Taka had entered a bearish structure within a stable, low-volatility trading regime. The latest technical and momentum signals reinforce this outlook, and traders should monitor BDT139.665 as the critical resistance level for any potential shift toward bullish momentum.

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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