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!
The euro is trading around 1.1404 within an uptrend channel that has been forming since June 24 and above the 21 SMA with a bullish bias, but it may be reaching exhaustion levels.
The euro found strong support around the 5/8 Murray level; this zone provided strong momentum to reach 1.1435. This zone is acting as strong resistance, so EUR/USD is likely to pull back to the 1.1352 level in the coming days.
Given that the Eagle indicator is showing a positive signal, we can buy the euro at current price levels above 1.14, with a target at 1.1474.
On the other hand, a break above 1.1430 could be a positive signal to continue buying, with targets at the 6/8 Murray level and ultimately at the 200 EMA around 1.1526.
Conversely, if the euro breaks below 1.1400, it will be seen as a negative signal to sell, with targets at 1.1352. If bearish momentum prevails, we could continue selling with targets at the 4/8 Murray level around 1.1230.
*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.
