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 is trading at 1.0760 around the 200 EMA and above 0/8 Murray, showing exhaustion after yesterday's technical bounce.
On the H1 chart, we can see that the euro bounced above 1.0700, the bottom of the downtrend channel, and from that point reached the maximum level of 1.0784.
If the Euro trades below 1.0770 in the next few hours, we expect it to resume its bearish cycle and it could reach 1.0740 and even a key area of 1.0700.
Otherwise, as long as the euro trades above the 200 EMA located at 1.0770, the outlook could remain positive and we could expect the euro to reach the resistance zone of 1.0864 (2/8 Murray) in the coming days.
Above 2/8 Murray, the euro could turn down and reach the psychological level of 1.10. Below this area, the euro is likely to resume its bearish cycle.
The Eagle indicator on H1 shows that the euro has reached the overbought area. A technical correction in the euro is likely to occur in the next few hours povided that the EUR consolidates below 1.0790. Then, it could reach -1/8 Murray located at 1.0681.
*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.
