Our team has over 7,000,000 traders!
Every day we work together to improve trading. We get high results and move forward.
Recognition by millions of traders all over the world is the best appreciation of our work! You made your choice and we will do everything it takes to meet your expectations!
We are a great team together!
InstaSpot. Proud to work for you!
Actor, UFC 6 tournament champion and a true hero!
The man who made himself. The man that goes our way.
The secret behind Taktarov's success is constant movement towards the goal.
Reveal all the sides of your talent!
Discover, try, fail - but never stop!
InstaSpot. Your success story starts here!
Trend analysis
EUR/USD will increase this November, starting from 0.9882 (closing of the October monthly candle) to 1.0198, which is the 23.6% retracement level (red dotted line). Then, it will go to the historical resistance level of 1.0373 (blue dotted line), before turning down again.
Fig. 1 (monthly chart)
Comprehensive analysis:
Indicator analysis - uptrend
Fibonacci levels - uptrend
Volumes - uptrend
Candlestick analysis - uptrend
Trend analysis - uptrend
Bollinger bands - uptrend
All this points to an upward movement in EUR/USD.
Conclusion: The pair will have a bullish trend, with no first lower shadow on the monthly white candle (the first week of the month is white) and no second upper shadow (the last week is white).
Throughout the month, quotes will climb from 0.9882 (closing of the October monthly candle) to the 23.6% retracement level at 1.019 (red dotted line), go to the historical resistance level of 1.0373 (blue dotted line), then turn down again.
Alternatively, the pair could rise from 0.9882 (closing of the October monthly candle) to the 23.6% retracement level at 1.0198 (red dotted line), then bounce down to the historical support level at 0.9994 (dashed blue line). Upward movement may resume from this level.
*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.
