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 EUR/USD pair is trading around 1.1377, rebounding after hitting a low of 1.1362 on the H4 chart. Looking at the chart, we can also see that it has formed a triple-bottom pattern, so we believe that it could rebound and reach the 200 EMA around 1.1447 in the coming days.
The euro faces strong resistance around 1.1395, so if it reaches this level in the coming hours and fails to break through, it could be seen as a signal to sell, with 5/8 Murray targets around 1.1352.
A decisive break above the downtrend channel and consolidation above 1.1400 could be seen as a positive signal for the euro, and we could expect EUR/USD to reach the 200 EMA around 1.1447 and ultimately the 6/8 Murray level around 1.1474.
As long as EUR/USD trades above the 5/8 Murray level or above 1.1363, the outlook will remain positive, and we could add long positions. A stop-loss below 1.350 could be a level to consider, as it would signal that the euro could continue its downward 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.
