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!
EUR/USD is facing strong resistance around the 1.0940-50 zone as the bears prepare to come back in control if prices manage to reach there. The single currency pair is seen to be tracing close to 1.0915 at this point in writing and could be preparing for a bearish reversal soon. If prices break below the 1.0766 lows the next target would be 1.0700 and 1.0600 in the near term.
EUR/USD has been retracing a larger-degree upswing between 0.9535 and 1.1275 over the past few weeks. The currency pair is projected to hit 1.0600 and fall down to 1.0500 going forward but prices need to stay below the 1.1275 resistance for now. If a zigzag is unfolding against 1.1275, possibilities remain for a continued drop towards 1.0200 as well.
EUR/USD is either preparing to reverse lower from current levels or after rallying through the 1.1000-50 area. Also, note that the above range is also the Fibonacci 0.50 retracement of the recent downswing between 1.1275 and 1.0765 levels respectively. Either way, the bears are expected to remain in control until prices stay below 1.1275.
A potential drop to resume towards 1.0600 soon.
Good luck!
*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.
