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 47 days, the EUR/USD pair finally closed the gap left on February 27, demonstrating that technical analysis also has targets to be met. From the 1.14 level, a new upward move began, reaching a high around 1.1827.
The euro had left a gap in February around 1.1813, which was completely filled yesterday during the US session. A technical correction is now expected toward the lower band of the uptrend channel located at 1.1645.
If the euro finds solid support above the 21 SMA at 1.1778, this area could present a buying opportunity with targets at the 5/8 Murray level around 1.1840.
Given that the Eagle indicator has reached overbought levels, should a pullback occur toward the 5/8 Murray level, this could be considered an opportunity to open short positions, with targets at the 4/8 Murray level at 1.1718 and finally at the lower band of the uptrend channel.
Technically, the euro could consolidate below 1.1840 over the next few days. Therefore, we will look for signals to continue selling EUR/USD as there is strong downward pressure.
*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.
