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 1.1576, below the 21-day SMA and the 200-day EMA, and within an uptrend channel formed since March 13. On the H4 chart, we can see that the euro has encountered strong resistance around 1.1640, where the 200-day EMA is located and is exerting downward pressure.
The euro is expected to fall below the 3/8 Murray level and below the 21 SMA in the coming hours, potentially reaching the support of the uptrend channel around 1.1530 and possibly even the 2/8 Murray level around 1.1475.
If bearish momentum goes ahead, the euro is expected to continue falling and could reach the 1/8 Murray line around 1.1352. As long as the price settles below the 200 EMA, any technical rebound will be viewed as an opportunity to sell in the coming days.
Conversely, a consolidation above 1.1646 could support a recovery in the euro, and EUR/USD is expected to reach the 4/8 Murray level around 1.1718 and could even close the gap left around 1.1820, eventually reaching the 5/8 Murray level around 1.1840.
The Eagle indicator has reached oversold levels, so a strong technical correction in the euro is likely to occur in the coming days. Therefore, we will look for opportunities to sell below 1.1645, with targets at 1.1474 and 1.1352.
*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.
