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!
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Recently, the EURUSD pair looked overbought while approaching the price levels of 1.2250 (138% Fibonacci Level).
That's why, conservative traders were advised to look either for SELL Positions around the previous price levels at 1.2330 (150% Fibonacci Level) in the previous article.
Recently, Bearish closure and persistence below 1.2160 was needed to abort the ongoing bullish momentum. This allowed the recent bearish movement to pursue towards 1.2050 where the depicted key-zone is located.
However, Intraday traders should were advised to look for short-term BUY Trade around the price zone of 1.2000.
This price zone provided temporary bullish SUPPORT for the EURUSD. However, lack of sufficient bullish momentum is currently being demonstrated.
Early Exit was suggested for the previous BUY Position while waiting for a possible bearish continuation Pattern.
Bearish persistence below the current price level of1.2000 would enhance the continuation of the current bearish Head and Shoulders Pattern towards lower targets around 1.1950 and probably 1.1860.
*这里的市场分析是为了增加您对市场的了解，而不是给出交易的指示。
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