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 moved lower as expected and printed a low at 1.0655 just above our ideal target of 1.0650. The following break above minor resistance at 1.0707 confirms that wave 4 has been completed and wave 5 higher towards 1.1391 now is in progress.
As we expect, wave 5 to be in motion also means that the 1.0655 low must not be broken again or we will have to review our preferred count.
Now, a break above resistance at 1.0791 will add confidence in our count of wave 5 being in motion and the expected move higher towards 1.1391.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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