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!
EUR/USD is trading around 1.1391, rebounding after hitting a low of 1.1375, which coincided with the lower band of both the uptrend channel and the downtrend channel. The euro is expected to continue rebounding in the coming hours and consolidate above 1.1375.
Given that the euro has been under downward pressure in recent days and is consolidating below the 21 SMA, it could continue to fall if the price breaks below the uptrend channel and could reach the 5/8 Murray level around 1.1352.
Technically, we believe the euro could rebound in the coming days, so we will look for buying opportunities with targets at 1.1418 and ultimately at the upper band of the uptrend channel around 1.1453.
A decisive break above 1.1455 could see the euro continue rising until it reaches the 200 EMA around 1.1480 and could ultimately reach the upper band of the uptrend channel around the psychological level of 1.15.
The Eagle indicator is showing a positive signal, so we believe the euro could continue to rise in the coming days. However, we should avoid buying if the price falls below the 5/8 Murray level, as this would signal a change in the overall trend.
*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.
