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
Higher Timeframes
The bulls managed to enter the positive territory beyond the weekly Ichimoku cloud (1.0750 - 1.0736). They also succeeded in testing the next cluster of resistance levels at 1.0795 - 1.0808 - 1.0817, which brought together representatives of all the higher timeframes. As a result, a daily consolidation was formed. While the market takes a break, uncertainty looms. Losing support levels (1.0750-36) under current conditions could lead to entering the bearish territory, relative to the weekly cloud, which may help in fueling the bearish bias. Traders may consider new bullish prospects if the price breaks above the 1.0795-1.0808-17 area, followed by the daily cloud (1.0827-39).
H4 – H1
The bulls have the advantage on the lower timeframes. Today, the bullish targets can be found at 1.0803 - 1.0824 - 1.0863 (classic Pivot levels). If the current corrective decline manages to push the price below the key levels, which are currently converging around 1.0760 - 1.0764 (weekly long-term trend + central Pivot level of the day), the current balance of power may shift in favor of the bears. To strengthen this sentiment, bears may use the support of classic Pivot levels within the day, which are currently at 1.0743 - 1.0704 - 1.0683 (support of classic Pivot levels).
***
Higher Timeframes
After the bulls interacted with several weekly resistance levels (1.2633 – 1.2580 – 1.2553), it signaled a rebound on the daily timeframe, but buyers were unable to continue the decline due to a significant accumulation of support levels from various timeframes around 1.2472 – 1.2479. A breakthrough will strengthen the bulls. Failure to overcome the support levels will form a consolidation and strengthen opposing sentiments, and as a result, the bulls may return to the resistance levels that were tested (1.2633 – 1.2580 – 1.2553) with the goal of breaking through them and further developing their advantages.
H4 – H1
The corrective rise on the lower timeframes brought the pair to the resistance of the weekly long-term trend (1.2526). The weekly trend is the most important level on the lower timeframes, which makes it possible to determine who has the main advantage and who is responsible for the current balance of power. The bears will maintain the main advantage if the price moves below the trend. Vice versa, the bulls will have the advantage if the pair trades above the trend. In addition, reference points during the development of the movement are the classic Pivot levels. Today, the support levels are located around 1.2468 – 1.2416 – 1.2388, and resistances can be found at the levels of 1.2548 – 1.2576 – 1.2628.
***
The technical analysis of the situation uses:
Higher timeframes - Ichimoku Kinko Hyo (9.26.52) + Fibonacci Kijun levels
Lower timeframes - H1 - Pivot Points (classic) + Moving Average 120 (weekly long-term trend)
*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.
