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Pound held its ground and even attempted to show some growth until the opening of the US trading session. By then, the pair began to decline sharply, despite no events that could have influenced the market at all.
As for euro, the better-than-expected retail sales data in the eurozone prompted a rise, but at the end of the trading day, it essentially remained unchanged, indicating the stable strengthening of dollar.
It seems that investors remain convinced that the Federal Reserve will pursue a more active policy than the European Central Bank, even though several representatives already mentioned the absence of reasons to raise interest rates at the upcoming meeting. At the same time, other members caution against hasty conclusions, since inflation already delivered an unpleasant surprise.
Dollar may continue to rise today, driven in part by data on jobless claims. The number of initial claims could increase by 11,000, while the number of continuing claims could decrease by 33,000.
Despite the typical volatility, EUR/USD continues to be under pressure from sellers, indicated by the stable holding of the price in the area of the base of the downward cycle. In the event of a breakthrough of 1.0700, short positions will surge, leading to subsequent declines. Meanwhile, s decline below the control level can lead to a consolidation, followed by a rebound.
GBP/USD reached the support level of 1.2500, around which the volume of short positions decreased. This resulted in a slight consolidation, which, given the oversold status, could turn into a pullback. As for further declines, it will happen if the price remains stably below 1.2500.
*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।
