The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
Borussia is one of the most titled football clubs in Germany, which has repeatedly proved to fans: the spirit of competition and leadership will certainly lead to success. Trade in the same way that sports professionals play the game: confidently and actively. Keep a "pass" from Borussia FC and be in the lead with InstaSpot!
Early in the American session, the euro is trading around 1.1349 within the downtrend channel formed on April 18. EUR/USD has been consolidating for the past few days around 1.1340.
If the EUR/USD pair breaks and consolidates above the downtrend channel and above the 21SMA located at 1.1360 in the coming hours, it will be seen as a buy signal with a target at the 7/8 Murray located at 1.1474.
On the other hand, if bearish pressure prevails and the euro consolidates below 1.1370, it could be seen as a sell signal with targets at the 6/8 Murray located at 1.1230 and ultimately at the bottom of the downtrend channel around 1.1135.
If the euro breaks the downtrend channel, we could expect a pullback toward the 7/8 Murray at 1.1474. Once the price enters this area, it will be seen as a sell signal.
The support at the 6/8 Murray around 1.1230 and the support at the 200 EMA around 1.1108 could favor a technical rebound, as we see the eagle indicator reaching oversold levels on the H4 chart.
Our trading plan for the coming hours is to sell below 1.1370 with targets at 1.2395 and 1.1230. We expect the euro to fall toward the psychological level of 1.1000 in the short term.
*Analiza tržišta koja se ovde nalazi namenjena je boljem razumevanju tržišta i ne pruža instrukcije za vršenje trgovanja.
Uz InstaSpot-ove analitičke preglede uvek ćete biti u toku sa tržišnim trendovima! Klijentima InstaSpot-a su dostupni mnogobrojni besplatni servisi za uspešno trgovanje.
