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!
Retail sales in the United Kingdom in December fell by 3.2% month-on-month, marking the largest decline in three years. This figure is the lowest since January 2021, when retail stores suffered due to the coronavirus pandemic. Year-on-year, retail sales in the country decreased by 2.4%, exceeding forecasts and the expected reduction of 1.1%.
The EUR/USD currency pair returned to the 1.0900 level during its pullback, where it has experienced fluctuating movement for the second consecutive trading day.
GBP/USD continues to move within a five-week sideways channel of 1.2600/1.2800, consistently testing the established boundaries. Currently, the price has stabilized above the average level of 1.2700, indicating an increase in the volume of long positions within the sideways trend.
No significant economic events are expected on Monday, and the macroeconomic calendar remains relatively empty. However, it is important to pay attention to the speech of European Central Bank President Christine Lagarde.
Statements by central bank representatives, especially their remarks regarding economic policy and forecasts, can influence financial markets. Therefore, investors and traders follow the comments and statements of key figures in the global economy to understand potential changes in long-term or short-term outlooks.
The current situation suggests that stabilization of the price above the 1.0900 level during the trading day may stimulate an increase in long positions, leading to the currency rate moving towards the 1.1000 level. On the other hand, a return of the price below 1.0850 could activate a downward scenario.
In this situation, market participants continue to focus on trading within the boundaries of the sideways channel, which apparently limits the price movement for the GBP/USD currency pair. Technical analysis indicates the possibility of the currency rate moving towards the upper boundary of the channel, located at the 1.2800 level.
However, it is important to remember that a flat is a temporary price manifestation, leading to the accumulation of trading forces and significant attention from speculators. This will eventually result in impulsive jumps that will lead to its conclusion and indicate subsequent market movement. For this reason, it is always worth considering a breakout trading tactic.
The candlestick chart type is white and black graphic rectangles with lines above and below. With a detailed analysis of each individual candle, you can see its characteristics relative to a particular time frame: opening price, closing price, intraday high and low.
Horizontal levels are price coordinates, relative to which a price may stop or reverse its trajectory. In the market, these levels are called support and resistance.
Circles and rectangles are highlighted examples where the price reversed in history. This color highlighting indicates horizontal lines that may put pressure on the asset's price in the future.
The up/down arrows are landmarks of the possible price direction in the future.
*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.
Graphical patterns
indicator.
Notices things
you never will!
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.
