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!
Early in the American session, the euro is trading around 1.0796, above the 21 SMA, and below the downtrend channel forming on the H1 chart since October 10th.
The latest trading shows strong bearish pressure. However, after having reached a low of 1.0760, the euro is showing a recovery.
If a sharp break above the downtrend channel occurs in the next few hours, this could be seen as an opportunity to buy with the target at 4/8 Murray located at 1.0986.
If the euro falls below the 21 located at 1.0887, it could reach 0/8Murray located at 1.0742, a key level and an important support since the euro would experience a technical rebound in this area.
According to the H1 chart, we can see that the euro is forming a small bullish trend channel. If EUR/USD bounces above the bottom of the trend channel around 1.0780, this move could give an opportunity for a further rise. So, we could expect a sharp break of the downward trend channel, which would confirm the euro's recovery.
US PMIs will be published in the next few hours, which could favor the upward movement of the euro. In turn, we could look for opportunities to buy as long as the price consolidates above 1.0800.
*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.
