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!
The euro is trading around 1.1797, above the 21-day SMA, consolidating between 1.1770 and 1.18, indicating a possible continuation of the uptrend, though technically, signs of exhaustion are evident.
If the euro remains above 1.1790 in the coming hours, we can expect EUR/USD to continue rising and potentially reach the 5/8 Murray level around 1.1840. The instrument could even reach the upper band of the uptrend channel around 1.1868.
According to the H4 chart, the Eagle indicator is reaching overbought levels, so a technical correction is expected in the coming days, and we could see a drop toward the 4/8 Murray level at 1.1718.
If the euro reaches the resistance levels of 1.1820 or 1.1840, both levels could be considered a zone to open short positions, as technically, EUR/USD has approached overbought levels. So, we could expect a technical correction below this zone.
A break and consolidation below the uptrend channel would effectively signal the end of the uptrend, thus, we could expect the euro to reach the 2/8 Murray level at 1.1474 in the short term. EUR/USD could even sink to the levels of 1.13 or 1.12.
Our trading plan for the coming hours is to sell the euro below 1.1840. The Eagle indicator supports our bearish strategy.
*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.
