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!
Trend analysis:
EUR/USD will probably move downwards in June, starting from the level of 1.0688 (closing of the May monthly candle) to the 38.2% retracement level at 1.0609 (red dashed line). Upon testing this price, the pair will bounce up to the 50% retracement level at 1.0941 (red dashed line).
Fig. 1 (monthly chart)
Comprehensive analysis:
Indicator analysis - uptrend
Fibonacci levels - uptrend
Volumes - uptrend
Candlestick analysis - uptrend
Trend analysis - uptrend
Bollinger bands - uptrend
The indicators show that a bullish scenario will unfold in EUR/USD.
Conclusion: The pair will have an upward trend, with a first lower shadow on the monthly white candle (the first week of the month is black) and no second upper shadow (the last week is white).
So, throughout the month, quotes will dip from 1.0688 (closing of the May monthly candle) to the 38.2% retracement level at 1.0609 (red dashed line), and then bounce up to the 50% retracement level at 1.0941 (red dashed line).
Alternatively, euro could decline from 1.0688 (closing of the May monthly candle) to the 38.2% retracement level at 1.0499 (yellow dashed line), and then turn around and climb upwards to the 50% retracement level at 1.0941 (red dashed line).
*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.
