Our team has over 7,000,000 traders!
Every day we work together to improve trading. We get high results and move forward.
Recognition by millions of traders all over the world is the best appreciation of our work! You made your choice and we will do everything it takes to meet your expectations!
We are a great team together!
InstaSpot. Proud to work for you!
Actor, UFC 6 tournament champion and a true hero!
The man who made himself. The man that goes our way.
The secret behind Taktarov's success is constant movement towards the goal.
Reveal all the sides of your talent!
Discover, try, fail - but never stop!
InstaSpot. Your success story starts here!
EUR/USD has extended its daily rebound toward 1.0950 in the early American session on Wednesday. The US Dollar Index, which reached its highest level in nearly two years at 99.75 earlier, fell into negative territory below 99.50 as investors wait for the Fed to release the minutes of the March policy meeting.
EUR/USD is trading in the 1.0920 price zone, posting modest intraday gains. However, the risk is skewed to the downside, according to technical readings. In the daily chart, the pair remains well below all of its moving averages, with the 20 SMA gaining bearish strength at around the 1.1000 figure and below the longer ones. Technical indicators hold within negative levels, partially losing their bearish strength but without signs of downward exhaustion.
The 4-hour chart shows that technical indicators have corrected extreme oversold readings but turned flat within negative levels afterwards, indicating absent buying interest. Meanwhile, the 20 SMA maintains a firmly bearish slope below the longer ones, capping the upside a few pips above a Fibonacci resistance level at around 1.0965.
Support levels: 1.0870 1.0830 1.0805
Resistance levels: 1.0965 1.1020 1.1070
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.
