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!
Preliminary inflation estimates in the eurozone showed a slowdown in the pace of consumer price growth from 2.6% to 2.4%. Meanwhile, employment in the US grew by 184,000, surpassing the forecast of 125,000. Fed Chairman Jerome Powell also stated that the central bank will analyze the macroeconomic dynamics before deciding on interest rate cuts. Overall, this points toward an inevitable and substantial rise of dollar. However, contrary to expectations, euro continued to gain strength.
The market may return to its usual course today after the release of data on producer prices in the eurozone. The rate of decline may slow down from -8.6% to -8.3%, which may convince the market that the European Central Bank will be the first to cut interest rates. Therefore, the prospects for euro does not look as bright as they may seem.
EUR/USD surpassed the resistance level of 1.0800, resulting in the surge of long positions. This led to the further strengthening of the pair and its overbought condition, which may end with a slowdown and a correction. However, in the case of momentum, the overbought signal may be ignored, leading to further movement towards the level of 1.0900.
A similar picture could be seen in GBP/USD. It rose by 90 pips and shows signs of overbought conditions in the lower timeframes, which may lead to the decrease of long positions. However, in the case of momentum, market players may ignore this technical analysis.
*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।
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