Stay 
Trading Conditions
Products
Tools
The spot rate approaches the lower limit of its medium-term bearish channel at 1.3030 suggesting a rebound. However, a break of these levels will free large potential and initiate a more violent bearish channel.
Technical indicators provide sell signals, but until the support is not broken, the assumption of a rebound is most likely. Bollinger bands are much discarded as a result of a strong decline these days. Stabilization is expected in a short term.
The spot rate is currently testing the lower limit of its channel, so we suggest 2 scenarios: the first one is the hypothesis of a rebound, then we recommend a buy on the level of 1.3030 with the 1st objective at 1.3090 and then at 1.3110. A break through 1.3010 will invalidate this scenario. The second scenario is a break of its support, then we recommend a sell stop, which means to sell the spot rate as soon as it has broken through its support of 1.3030 with the 1st objective at 1.2970 and then at 1.2950. A break through 1.3050 will invalidate this scenario.
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.
We may place cookies for analysis of our visitor data, to improve our website and measure advertising performance. Overall this data is used to provide a better website experience. More information
Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of Instant Trading EU Ltd including online trading, online transfers, deposit/withdrawal of funds, etc.
If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.
Why does your IP address show your location as the USA?
Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.
We are sorry for any inconvenience caused by this message.
