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!
The currency pair seems undecided and continues to move within the short term range pattern. It's trading at 1.0814 at the time of writing. Personally, I believe that the US data could bring strong action on the EUR/USD pair. As you already know, I've talked about a potential sell-off after failing to take out the 1.0867 former high.
Fundamentally, the USD needs strong support from the US economy today to be able to appreciate. Still, the Unemployment Claims indicator could increase to 214K in the last week from 205K in the previous reporting period. Philly Fed Manufacturing PMI could come in better compared to the previous reporting period, while Building Permits and Housing Starts data will be released as well. Positive US data should lift the greenback.
You already know that the EUR/USD pair is trapped between the 1.0780 and 1.0867 levels. Today, it has rebounded but it has found supply right below the upper median line (uml). This line represents a dynamic resistance.
On the other hand, the weekly pivot point of 1.0780 and the former low of 1.0766 represents static support levels.
The bearish scenario is still valid, a bearish closure below 1.0766 activates more declines and brings new short opportunities. This scenario could take shape if the US data comes in better than expected today.
*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.
