Our team has over 7,000,000 traders!
Every day we work together to improve trading. We get high results and move forward.
Recognition by millions of traders all over the world is the best appreciation of our work! You made your choice and we will do everything it takes to meet your expectations!
We are a great team together!
InstaSpot. Proud to work for you!
Actor, UFC 6 tournament champion and a true hero!
The man who made himself. The man that goes our way.
The secret behind Taktarov's success is constant movement towards the goal.
Reveal all the sides of your talent!
Discover, try, fail - but never stop!
InstaSpot. Your success story starts here!
Apparently, a rehearsal of what should happen today was seen yesterday morning. In theory, some kind of stagnation can be expected since the macroeconomic calendar was completely empty. At the same time, the US inflation data will be published today, so it would be logical to observe just a strong sideways movement. Before the publication of the important data, investors will clearly be very careful and will avoid sharp movements. The trading day began with a slight increase in the US dollar, but everything returned where it started since the opening of the US session. In turn, the pound somewhat stood out, which declined much more actively.
But everything is quite simple here. The pound is under pressure from the ever-worsening epidemiological situation in the United Kingdom. In this case, today's inflation data in the US should show a slowdown from 5.0% to 4.9%. This will mean that the increase in inflation was really temporary, and so, cannot threaten the economic recovery. Naturally, this is an extremely positive factor for the US dollar. It is for this reason that we can say that something like a rehearsal was observed yesterday. Moreover, we can say that the scale of the dollar's growth today will be slightly larger than yesterday and without a subsequent return to the original values.
Inflation (United States):
The EUR/USD pair has the effect of slowing down after the correction, where the price levels of 1.1880/1.1890 act as a resistance area. If the price is kept below the level of 1.1840, the downward movement may continue towards the support level of 1.1800.
Moving according to a correctional pattern from the pivot point of 1.3730, the GBP/USD pair encountered the resistance level of 1.3900, relative to which a stagnation-pullback occurred. Traders still consider a rebound from the 1.3900 level, which may lead to an increase in the volume of short positions, restoring the US dollar's rate against the British pound.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.
