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!
EUR/USD is trading around 1.1377, pulling back after reaching 1.1439. The euro is showing a negative signal, but it could also be consolidating in preparation to resume its uptrend.
On the H4 chart, we can see that the euro pulled back to the 61.8% Fibonacci level, so the euro could resume its initial uptrend above this zone, and we could expect it to reach the 6/8 Murray level around 1.1475 in the coming days and ultimately reach the 200 EMA around 1.1520.
If the euro breaks above and consolidates above the 21 SMA at 1.1396 in the coming hours, we could expect a bullish sequence to begin. However, for that to happen, we would still need to wait for EUR/USD to break above the downtrend channel around 1.14. Above this zone, we could look for buying opportunities, with targets at the 200 EMA around 1.1520, and ultimately, we could expect it to reach the 7/8 Murray level around 1.1575.
The euro has strong support around 1.1352. If EUR/USD reaches this support level in the coming hours and consolidates above this zone, it could be a good point to open long positions, anticipating that it will reach 1.1396 and eventually break above this zone to reach 1.1520.
Our trading plan is to buy the euro in the coming days. We should monitor the price closely to make sure it consolidates above 1.1350. Above this level, any pullback will be seen as a signal to open long positions.
*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।
