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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EUR/USD has resumed its correction towards 1.1100 and 1.1000 levels as discussed and projected. The single currency pair has almost hit 1.1100 last week and could produce a corrective rally toward 1.1170 in the next 1-3 trading sessions. Once complete, prices should resume lower towards 1.1000 to complete the structure.
EUR/USD broke out of its larger-degree triangle consolidation after terminating its last leg around 1.0830. The first wave higher seems to be in place at 1.1275 as the bears work on the second wave correction. Earlier, the single currency rallied over 700 pips between 0.9535 and 1.1035 to carve a meaningful larger-degree upswing. Another 700 pips rally could be in the making against 1.0830.
EUR/USD is working on its recent lower-degree upswing between 1.0830 and 1.1275. A corrective wave is unfolding and is projected to terminate close to 1.1000 going forward. Also, note that the Fibonacci 0.618 retracement of the above rally is passing through 1.1000 and hence, the probability for a bullish bounce remains high.
A potential drop toward 1.1000 in the next few trading sessions.
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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