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!
The euro is trading around 1.1671, below the 21-day SMA and within the uptrend channel that has formed since early August. EUR/USD could come under pressure in the coming days if it consolidates below the Murray 8/8 level.
The euro reached a high of 1.1710, a level that coincided with the upper band of the uptrend channel and also approached the Murray 8/8 zone, which represents strong resistance. We believe that we will look for opportunities to continue selling in the coming hours. Hence, the instrument will likely fall toward the Murray 6/8 level, around 1.1596, in the coming days.
Conversely, if the euro consolidates above 1.1677, we could expect a recovery in the currency pair, which might reach the 8/8 Murray level around 1.1718. If this happens, a triple top pattern could technically form, and a strong technical correction is likely to follow this rally.
If the euro falls below the 7/8 Murray level around 1.1657, we could see a rapid decline since there is no support until 1.1596. Therefore, a break below this zone could be considered a sell signal.
The Eagle indicator is showing a negative signal and has reached overbought levels; therefore, as long as EUR/USD trades below 1.1718, our outlook remains bearish for the coming days.
*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।
