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!
EURUSD dropped to 1.0110 on Tuesday before finding support. The single currency pair is seen to be trading close to 1.0150 at this point in writing and is expected to print yet another low at around the 1.0075-1.0100 zone before resuming higher again. Bulls might be poised to hold prices above the 0.9952 interim lows to keep the near-term structure constructive.
EURUSD aims to produce a larger-degree corrective rally towards the 1.0800-1.0900 zone, after carving a potential low at around 0.9952 on July 14. The potential medium-term target for the counter-trend rally to push through is the 1.0800-1.0900 area, which is also the Fibonacci 0.382 retracement of the earlier downswing between 1.2350 and 0.9952.
EURUSD has been in a downtrend since January 2021, carving lower lows and lower highs between 1.2350 and 0.9952. As discussed earlier, the drop is either complete or is close to completion towards 0.9500. Either way, a bullish reversal remains highly probable from the current levels (1.0100-50), reaching up to the 1.0800-1.0900 zone.
EURUSD has further carved a lower-degree upswing between 0.9952 and 1.0275 in the past few trading sessions. Prices are retracing at the moment and could find support at around 1.0075, which is the Fibonacci 0.618 level. A high probability remains for bulls to come back in control and push prices through 1.0800 at least in the next few weeks.
Potential rally through 1.0800-1.0900 against 0.9952.
Good luck!
*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.
