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 is trading around 1.0689. Trend according to the Ichimoku cloud indicator is bearish in the near term. Price is below the 4 hour Kumo (cloud). As long as this is the case, trend will be controlled by bears. Support is found at 1.0659 by the tenkan-sen (red line indicator). Resistance by the kijun-sen (yellow line indicator) is at 1.0710. There we also find the lower cloud boundary. So the area around 1.07 is an important area for the near term. The Chikou span (black line indicator) is below the candlestick pattern. This confirms bearish trend.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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