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!
Although a lot of macroeconomic statistics were released yesterday, markets were unaffected as players focused more on Gazprom's decision to cut off gas supplies to Europe. According to the official statement, there was a breakdown, so there is a need for additional repairs. This threatens Europe with shutdowns of enterprises and massive power outages.
Unsurprisingly, the incident caused a massive collapse in both EUR/USD and GBP/USD. The situation only stabilized after the release of retail sales data on Europe, which declined by -0.9%. For future price movements, much will depend both on the statements of officials and the press service of Gazprom. Nevertheless, euro has little chance of increasing, and there is certainly no hopes of rising above parity. On the contrary, some statements may even contribute to another decline below 0.99, followed by a rebound.
Retail sales (Europe):
EUR/USD failed to break through the lower boundary of the range 0.9900/1.0050. As a result, there was an increase in the volume of long positions, which led to a rebound in prices. It can be assumed that, despite the prevailing downward sentiment among speculators, the market is still developing within the base of the medium-term trend. The best action to this is to work a rebound or breakdown relative to the given boundaries. In case of a breakdown, wait for a strong signal in the daily (D1) timeframe.
GBP/USD continued to fall and came close to the 2020 low, where a local reduction in the volume of short positions occurred, which eventually led to a rollback. To prolong the main trend, it is necessary to keep the price below 1.1410 in the four-hour timeframe.
*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.
InstaSpot
video analytics
Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.
If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.
Why does your IP address show your location as the USA?
Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaSpot anyway.
We are sorry for any inconvenience caused by this message.
