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 at 1.1628, rebounding after hitting the lower band of the downtrend channel at 1.1618. Since then, there has been a strong technical rebound, but it lacked the momentum to sustain the upward move, so we are seeing a new downtrend.
If the euro consolidates above the daily support level around 1.1621 in the coming hours, it could be considered a buying opportunity with a target of 1.1650 and the upper band of the downtrend channel around 1.1663.
After breaking through the 4/8 Murray level, the euro failed to consolidate above this zone and attempted to break through on several occasions but was unable to do so, which triggered a sharp drop from 1.1718 to 1.1618; therefore, we believe the euro could see a recovery in the coming days.
If bearish momentum prevails, the euro has a significant and key support level around the 3/8 Murray line at 1.1596. This level could offer a good opportunity to open long positions and buy during a simple technical rebound if the price consolidates above this zone.
The Eagle indicator has reached oversold levels and is giving a positive signal, so we must be very cautious as a strong technical rebound could occur in the coming days.
*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.
