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!
EUR/USD
Analysis:
On the daily chart of the euro, the downward wave has not completed. It sets the direction for all short-term price fluctuations in the pair. The last section of the wave dates back from March 31. The upper boundary of the strong potential reversal zone is near the calculated support.
Outlook:
In the next 24 hours, a flat movement lasting for the last two days is likely to end and the resumption of the price decline is possible. It is highly probable that a downward movement will complete in the support area.
Potential reversal zones
Resistance:
- 1.0880/1.0910
Support:
- 1.0770/1.0740
Recommendations:
There are no conditions for buying the euro in the market today. It is recommended to monitor all emerging signals to sell the instrument in the area of calculated resistance
USD/JPY
Analysis:
On the chart of the Japanese yen, an upward wave lasting from the start of 2021 ended on March 28. The ensuing price decline formed the first part of the wave structure (A), following the formation of its incomplete middle part (B).
Outlook:
The price growth is likely to end in the coming days. A formation of the reversal and the resumption of the price decline is possible in the area of the calculated resistance. In case of the change in trend, a short-term piercing of the upper boundary of the resistance area is probable.
Potential reversal zones.
Resistance:
- 124.60/124.90
Support:
- 123.50/123.20
Recommendations:
Small lot and short-term purchases of the Japanese yen are possible in the morning. It is advisable not to enter the pair's market until there are sell signals around the resistance area.
GBP/JPY
Analysis:
On the chart of the GBP/JPY pair, the direction of the short-term trend is set by an upward wave dating back from March 7. The pair has been forming a corrective plane since March 28. The middle part (B) is developing within its structure.
Outlook:
A further sideways price movement is possible in the near future. A downward vector is most likely. A renewal of a bullish trend with the price growth to the calculated resistance is expected at the end of day or tomorrow. Afterwards, a return to the downward direction is likely.
Potential reversal zones.
Resistance:
- 162.50/162.80
Support:
- 161.40/161.10
Recommendations:
Today, trading is possible only within individual sessions with small lots. It is recommended to close positions at the first reversal signals. It is advisable to buy the pair from the support area in the morning.
GOLD
Analysis:
In the short term, the direction of the gold trend is set by the algorithm of the downward wave dating back from March 8. A horizontal plane resembling a pennant pattern has been forming for three weeks. After it ends, the decline will continue.
Outlook:
A further sideways price movement is expected in the next trading sessions. A downward vector is more likely in the morning. The price growth to the resistance zone is possible at the end of the day or tomorrow.
Potential reversal zones.
Resistance:
- 1940.0/1945.0
Support:
- 1915.0/1910.0
Recommendations:
Trading in the current situation is extremely risky and may lead to losses. Short-term transactions within the price corridor are possible. It is advisable not to enter the market until there are sell signals in the resistance area.
Explanation: In the simplified wave analysis (UVA), waves consist of 3 parts (A-B-C). The last incomplete wave is analyzed. The solid background of the arrows shows the formed structure and the dotted background shows the expected movements.
Note: The wave algorithm does not take into account the duration of the instrument's movements in time!
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
