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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!
Reports that the European Union is set to invest in the creation of its own military, with Germany receiving substantial financial backing as the region's economic leader, have fueled a sharp rise in the euro. Effectively, the euro is benefiting from expectations of increased defense spending, reduced tax burdens, and the end of the ECB's monetary easing cycle.
Given these developments, coupled with uncertainty surrounding Trump's economic and geopolitical policies, a renewed upward trend in EUR/USD can be expected. Additional weak economic data from the U.S., set for release today, could further support this scenario.
Technical Outlook and Trade Idea
The price is trading above the middle line of the Bollinger Bands, as well as above the SMA 5 and SMA 14. The RSI is in overbought territory, and Stochastics are also positioned in this zone.
A firm hold above the 1.0625 support level could drive the pair higher toward 1.0715.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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