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The market is frozen in place not only because of a completely empty macroeconomic calendar, but also due to anticipation of tomorrow's release of inflation data in the United States, which will indicate the Federal Reserve's next actions. Probably even for the better that before that, in principle, nothing is published. Market participants are given the opportunity to take a breath and collect their thoughts. It is for this reason that the market stands still. So today the market will simply stand still.
The GBPUSD currency pair is moving in a rollback stage from the psychological level of 1.2000. As a result, the pound strengthened in value by about 100 points, winning back Friday's decline.
The RSI H4 technical instrument is moving in the lower area of the 30/50 indicator, indicating continued downward interest among traders. If the indicator stays above the middle line, a local buy signal may appear.
The moving MA lines on the Alligator H4 indicator are pointing down, which corresponds to the downward cycle from the beginning of August. Alligator D1 has intersections between the MA lines, this signal indicates a slowdown in the corrective move from July 15th.
On the trading chart of the daily period, there is a corrective move in the structure of the downward trend. There is no signal of a change in the medium-term trend.
Expectations and Prospects
In this situation, there is a short-term stagnation within the value of 1.2100. We can assume that the market will continue to be in the stage of consolidation.
The main signal for action will appear after the price stays outside one of the variable values of 1.2050/1.2155.
Complex indicator analysis in the short-term and intraday periods has a variable signal due to stagnation. Indicators in the medium term also have a variable signal, but due to a slowdown in the corrective move.
*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।
