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!
Overview :
The EUR/USD pair hit the weekly pivot point and resistance 1, because of the series of relatively equal highs and equal lows. But, the pair has dropped down in order to bottom at the point of 1.0835. Hence, the major support was already set at the level of 1.0766.
Moreover, the double bottom is also coinciding with the major support this week. Additionally, the RSI is still calling for a strong bearish market as well as the current price is also below the moving average 100.
Therefore, it will be advantageous to sell below the resistance (supply zone) level of 1.0810 with the first target at 1.0766. From this point, if the pair closes below the weekly pivot point of 1.0835, the EUR/USD pair may resume it movement to 1.0700 to test the weekly support 1.
Stop loss should always be taken into account, accordingly, it will be of beneficial to set the stop loss below the last bottom at 1.0877.
*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.
