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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Early in the European session, the euro is trading around 1.1725, undergoing a technical correction after attempting to break through the upper band of the uptrend channel.
The euro could consolidate in the coming hours around the 4/8 Murray line or the 21-day SMA before resuming its uptrend.
Technically, on the H4 chart, we observe that the euro is trading within a bearish trend channel formed since April 13. If the instrument falls below the 200 EMA around 1.1683, a strong technical correction toward the psychological level of 1.1500 could occur.
As long as EUR/USD consolidates above the 21 SMA and above the 200 EMA, any pullback could be considered a signal to continue buying in the coming days.
A decisive breakout and consolidation above the downtrend channel and above the April 26 high around 1.1750 could be seen as a positive signal, and we could continue buying the euro with targets at the 5/8 Murray level around 1.1840.
The Eagle indicator is giving a positive signal, so we could buy the euro in the coming days in case of a technical correction to the 200 EMA. Around this area, a technical rebound could give us an opportunity to open long positions.
*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.
