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 EUR/USD pair is trading around 1.1610, rebounding after hitting the lower band of the upward trend channel formed since May 19. The instrument is likely to rebound in the coming hours to reach last week's high of 1.1685.
If the euro rebounds above the 3/8 Murray line in the coming days and consolidates above this zone, it could be considered a buying opportunity with targets at the 200 EMA around 1.1665.
A drop and a break below the uptrend channel, followed by consolidation below 1.1596, could signal a trend reversal for the euro, and we could expect a sharp decline toward the psychological level of 1.1500.
The Eagle indicator is showing a bullish signal, albeit with signs of exhaustion, so we could expect EUR/USD to trade within the uptrend channel and above the 3/8 Murray level to continue buying. Conversely, a drop below both levels could invalidate our bullish outlook.
Given that the euro is showing signs of recovery, we could buy at current price levels of 1.1616, waiting for the bullish cycle to resume. Therefore, EUR/USD could potentially reach the 4/8 Murray zone as our target.
*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.
