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!
After finding bids reach to 1.0864, the EUR/USD pair price recovered above 1.0781 and 1.0803. Initial the EUR/USD pair resistance lies near the 1.0864 level (78% of Fibonacci retracement levels). A decent breakout and follow-up move above 1.0781 or/and 1.0803 could open the gate for a push towards the 1.0930 level. The main support remains near the area of 1.0781 and 1.0702. Also it should be noted that the EUR/USD pair and packets of pairs unite as the bulls gain their momentum.
The market is indicating a bullish opportunity above the above-mentioned support levels, for that the bullish outlook remains the same as long as the 100 EMA is headed to the upside. The EUR/USD pair increased within an up channel. Closing above the pivot point (1.0781) could assure that the EUR/USD pair will move higher towards cooling new highs. The bulls must break through 1.0903 in order to resume the up trend.
Trading recommendations :
The trend is still bullish as long as the price of 1.0781 is not broken. Thereupon, it would be wise to buy above the price of at 1.0781 with the primary target at 1.0903. Then, the EUR/USD pair will continue towards the second target at 1.0977 (a new target is around 1.1000in coming days).
Alternative scenario:
The breakdown of 1.0781 will allow the pair to go further down to the prices of 1.0703 and 1.0632.
Uptrend scenario :
An uptrend will start as soon, as the market rises above support level 1.0781, which will be followed by moving up to resistance level 1.0903. Further close above the high end may cause a rally towards 1.0977 and 1.1000. Nonetheless, the weekly resistance level and zone should be considered.
Downtrend scenario :
On the downside, the 1.0781 level represents support. The next major support is located near the 1.0703, which the price may drift below towards the 1.0632 support region.
*这里的市场分析是为了增加您对市场的了解，而不是给出交易的指示。
InstaSpot分析评论将让您充分了解市场趋势！ 作为InstaSpot的客户，您将获得大量的免费服务以实现有效的交易。
