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!
Borussia is one of the most titled football clubs in Germany, which has repeatedly proved to fans: the spirit of competition and leadership will certainly lead to success. Trade in the same way that sports professionals play the game: confidently and actively. Keep a "pass" from Borussia FC and be in the lead with InstaSpot!
Violet lines- Fibonacci retracements
Black line- neckline support
EURUSD is trading around 1.0715. Price moved as high as 1.0750 earlier today. Short-term trend remains bullish but the bullish trend has paused around the 38% Fibonacci retracement. Will we see a rejection? If price gets rejected at the 38% level we will have a lower high formed and it will not be good for bulls. The RSI has reached once again overbought levels. If the overbought RSI is combined with a rejection at the 38% retracement, this would be a bearish sign. Bulls want to see EURUSD stay above 1.0690 and not get rejected at the 38% level. Upside bounce potential is at 1.0835 where we find the 61.8% retracement. This is the most important resistance.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.
