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!
The euro and the pound are currently experiencing low demand, and despite mixed economic data from the U.S. last Friday, their growth has slowed. Many traders have adopted a more cautious approach as they did not receive the anticipated statements from the Federal Reserve regarding economic stimulus measures.
An unexpected rise in U.S. unemployment, which surpassed analysts' expectations, caused a decline in the dollar. However, this decline did not lead to a significant strengthening of the EUR/USD pair, indicating a lack of confidence among euro buyers in the continuation of the uptrend.
The unexpected increase in unemployment prompted traders to reevaluate their expectations for the Fed's future policy. The market has begun to factor in a higher likelihood of further interest rate cuts, putting additional pressure on the dollar. However, the euro has not been able to fully take advantage of this situation. One reason for the muted reaction in EUR/USD is the ongoing concerns regarding the outlook for the European economy. Moreover, investors remain cautious about the potential consequences of geopolitical tensions arising from U.S. trade wars.
Today, key data releases include Germany's industrial production figures, trade balance, and the Eurozone Sentix investor confidence index. Strong industrial data could boost demand for the euro. Otherwise, the correction in EUR/USD, which began after the recent European Central Bank rate cut, will likely continue.
Expectations for German industry remain subdued as the energy crisis and weak demand continue to weigh on the manufacturing sector. If the figures come below forecasts, the euro may face another wave of selling. The trade balance data will also be closely scrutinized—declining exports or rising imports could signal weakness in the German economy and reinforce negative sentiment toward the euro.
Although the Sentix index is a leading indicator, it carries less weight in the current situation compared to actual industrial production and trade data. However, a strong increase in the index could support the euro by easing selling pressure.
If the data aligns with economists' expectations, following a Mean Reversion strategy is best. A Momentum strategy is recommended if the data is significantly higher or lower than expected.
Buying above 1.0869 could lead to a rise toward 1.0901 and 1.0935.
Selling below 1.0827 could push the euro down to 1.0782 and 1.0749.
Buying above 1.2940 could lead to a rise toward 1.2972 and 1.3006.
Selling below 1.2881 could push the pound down to 1.2846 and 1.2808.
Buying above 147.85 could lead to a rise toward 148.20 and 148.50.
Selling below 147.50 could trigger a decline toward 147.20 and 146.70.
Looking to sell after an unsuccessful breakout above 1.0843 when the price returns below this level.
Looking to buy after an unsuccessful breakout below 1.0806 when the price returns above this level.
Looking to sell after an unsuccessful breakout above 1.2918 when the price returns below this level.
Looking to buy after an unsuccessful breakout below 1.2885 when the price returns above this level.
Looking to sell after an unsuccessful breakout above 0.6327 when the price returns below this level.
Looking to buy after an unsuccessful breakout below 0.6300 when the price returns above this level.
Looking to sell after an unsuccessful breakout above 1.4386 when the price returns below this level.
Looking to buy after an unsuccessful breakout below 1.4349 when the price returns above this level.
*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.
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.
