The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
Borussia is one of the most titled football clubs in Germany, which has repeatedly proved to fans: the spirit of competition and leadership will certainly lead to success. Trade in the same way that sports professionals play the game: confidently and actively. Keep a "pass" from Borussia FC and be in the lead with InstaSpot!
Few weeks ago, another episode of upside movement was expressed towards 1.2250 then 1.2350 where a false breakout above the price level of 1.2200 was regarded as a considerable bearish reversal signal.
Shortly after, a short-term reversal pattern has been demonstrated around these price levels. Intraday downside retracement to the downside was expected to occur.
However, the EUR/USD pair has failed to pursue towards lower price levels. Instead, the pair has spiked above the depicted Weekly HIGH around 1.2270 before the current bearish rejection was initiated around 1.2350.
Bearish closure below the mentioned price zone of 1.2250 - 1.2200 enabled a quick bearish decline towards 1.2170 which corresponded to a previous congestion zone as well as a prominent key-zone.
Persistence below the price level of 1.2170 has turned the intermediate outlook for the pair into bearish and enhanced further downside decline towards 1.2080 and just above few pips above 1.2040 as expected.
Currently, an atypical reversal Head & Shoulders Pattern is being depicted on the chart. Further confirmation needs more bearish persistence below 1.2170
On the other hand, the recent upside pullback towards 1.2170 was suggested to be considered for SELLING the EURUSD pair again. It's already running in profits. S/L should be placed just above 1.2220.
Estimated projection target for the EURUSD pair would be located around 1.1990.
*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।
