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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EURUSD climbed above the 1.0360-70 zone last Friday before facing resistance and pulling back. The single currency pair is seen to be trading close to 1.0300 at this point in writing as the bears prepare to come back in control soon. Please note that EURO has hit both targets 1.0200 and 1.0350, discussed and projected over the past few weeks.
EURUSD seems to have completed its larger-degree corrective wave, which started from the 0.9535 low earlier. The currency pair needs to produce at least a meaningful pullback if not a bearish reversal, before resuming higher again. Further extensions are pointing towards 1.0600 but not before a corrective drop from current levels.
The recent borders, which could be worked upon are between 0.9740 and 1.0370 levels as seen on the daily chart. A retracement is now possible towards the 1.0000-1.0050 area which is also the past resistance-turned-support, before resuming higher again. A break below immediate support around 0.9740 will confirm that the trajectory has reversed lower again.
Upside target hit, potential reversal towards 1.0000 against 1.0450
Good luck!
*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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