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If the debate between Donald Trump and Joseph Biden was a real disaster, yesterday's debate with Kamala Harris was much smoother and didn't cause any panic. So, the markets were able to ignore them. Investors can now calmly focus solely on U.S. inflation, especially since the rate of consumer price growth is expected to slow from 2.9% to 2.6%. This would likely convince the markets of a 50-basis-point cut in the Federal Reserve's interest rate. Thus, there is a high likelihood of a significant weakening of the U.S. dollar.
After testing the previous week's local low, the EUR/USD pair has resumed its corrective cycle. However, this movement didn't lead to any radical changes; the price merely returned to the upper deviation area of the psychological level of 1.1000/1.1050.
In the 4-hour chart, the RSI technical indicator is moving in the lower 30/50 range, indicating bearish sentiment among market participants.
Regarding the Alligator indicator in the same time frame, the moving average lines point downwards, which coincides with the direction of the price movement.
Stabilizing the price below the 1.1000 mark is necessary for the next phase of the decline. However, this would only shift the local support level to the lower region of the psychological range. Until that happens, traders are considering a price rebound as the main scenario on the market.
The complex indicator analysis suggests a price rebound in the short term, while indicators point to a downward cycle in the intraday period.
*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।