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!
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After hitting a low of 1.1410, the euro is rebounding and is now consolidating around the 2/8 Murray line. This suggests that the euro could continue its rise in the coming days and reach 1.1498, where the 21-day SMA is located, and is ultimately expected to reach the top of the downtrend channel around 1.1545.
Given that the euro has reached oversold levels, a pullback toward the 1.1450 area could be seen as a signal to resume buying, with a target at 1.1550. In the short term, the price is expected to reach the 1.1840 area, where a gap was left on February 26.
At current price levels, we expect any pullback toward last week's low around 1.1410 to present buying opportunities.
On the H4 chart, EUR/USD has staged a strong technical rebound, forming a bullish Japanese candlestick. It suggests upside potential in the coming days and a move above 1.1410, supporting our bullish outlook.
Any pullback in the euro in the coming hours presents an opportunity to open long positions with targets at 1.1500, 1.1550, and finally at the 3/8 Murray level at 1.1596.
*Analiza tržišta koja se ovde nalazi namenjena je boljem razumevanju tržišta i ne pruža instrukcije za vršenje trgovanja.
Uz InstaSpot-ove analitičke preglede uvek ćete biti u toku sa tržišnim trendovima! Klijentima InstaSpot-a su dostupni mnogobrojni besplatni servisi za uspešno trgovanje.
