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!
Early in the American session, the EUR/USD pair is trading around 1.0786, below the 21SMA. The instrument is following a downtrend.
Having reached a high of 1.0940, EUR/USD has been declining for several consecutive sessions. The euro could continue its fall, so we could look for opportunities to sell below the 21SMA with a target at the 200EMA located at 1.0690.
On the other hand, if the euro consolidates above 1.0810, we could expect a technical rebound towards 1.0864. EUR/USD could even reach its high of 1.0942.
According to the H4 chart, the euro appears oversold, and we believe that if EUR/USD finds strong support around the 8/8 Murray level at 1.0742 or 1.0690, it will be seen as a buying opportunity.
The euro is within the downtrend channel formed on March 18. If the instrument continues to trade within this channel, the price may decline lower in the coming days.
Only a breakout of the bearish channel and consolidation above 1.0810 could change the euro's course, and we could expect a recovery.
*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।
