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!
As the week comes to an end, the market remains indecisive, with no clear preferences evident. Yesterday, the bulls made some progress, adjusting the prevailing bearish sentiment. To confirm and consolidate the result, they need to overcome the cluster of resistance levels from various timeframes in the 1.0819–1.0856 area. After that, a new opportunity for further growth will open up, with the following targets being the upper boundaries of the weekly (1.0953) and monthly (1.0943) Ichimoku clouds. If the bulls surrender their gains from yesterday, the pair may return to support levels around 1.0727–1.0694.
On the lower timeframes, the pair is currently testing the resistance of the weekly long-term trend (1.0800). Holding this level gives a significant advantage. If the bulls manage to consolidate above this level and reverse the trend in their favor, they can test the resistance levels of the classic Pivot Points intraday (1.0835 – 1.0873 – 1.0924). If the trend is not broken, the advantage will remain on the bearish side. If the decline resumes, support will be provided by the classic Pivot Points today at 1.0746 – 1.0695 – 1.0657.
***
The market remains within a range of uncertainty that has persisted from previous weeks, remaining in the gravitational zone and influence of the weekly levels (1.2923 – 1.2957) and the daily short-term trend (1.2940). The main expectations have not changed, and the key reference points remain in place. The next upside target remains the 100% completion level of the daily breakout target above the Ichimoku cloud (1.3047), while the cluster of levels of interest to the bears is still located around 1.2765–1.2810, where monthly, weekly, and daily supports are gathered.
The bulls consolidated above the key levels of 1.2936 (daily central Pivot Point) and 1.2926 (weekly long-term trend), thereby gaining the main advantage on the lower timeframes. Intraday, further upside development today will proceed through the resistance levels of the classic Pivot Points (1.3004 – 1.3060 – 1.3128). A loss of the key levels (1.2936–26) will shift the current balance of power in favor of bearish sentiment. In that case, the market will focus on the support levels of the classic Pivot Points (1.2880 – 1.2812 – 1.2756).
***
*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 in figures
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.
