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 EUR/USD currency pair started Monday with a sharp rally. Overnight, the euro appreciated by 100–120 pips, and the pair traded more calmly during the day. Over the weekend, no events or news could have triggered such a move. Of course, this isn't really about the euro's strength but the U.S. dollar's continued weakness. But who's surprised anymore by the dollar falling? Trump's position remains unchanged: either pay the U.S. more money or face tariffs, sanctions, etc. So on Monday, there wasn't a clear reason to sell the dollar, but overall, the market continues to shed U.S. currency.
On the 5-minute timeframe Monday, quite a few trading signals were formed, but the main movement occurred during the Asian trading session. Technically, buy trades could have been opened even overnight, as the price rebounded from the 1.1395–1.1413 area. Later in the day, there was a good and precise bounce from the 1.1571 level and another from the 1.1474–1.1481 area. Opening trades within the 1.1513–1.1535 zone didn't make sense, as it was too narrow and acted as a solid range. Overnight, the price bounced once again from the 1.1474–1.1481 area, offering novice traders another opportunity to go long—if they trade during the night.
On the hourly timeframe, the EUR/USD pair continues its uptrend. After spending a week in consolidation, the new week began with a fresh surge. The upward movement is expected to continue as long as Trump keeps introducing and raising import tariffs. The market is not interested in anything other than the Global Trade War. When new tariffs are introduced, the dollar falls. When there aren't any, the market stalls—just like last week.
On Tuesday, the pair may continue upward as the market no longer needs new tariff headlines or escalations. As we warned earlier, the price can "spike" anytime.
On the 5-minute timeframe, consider the following trading levels: 1.0940–1.0952, 1.1011, 1.1091, 1.1132–1.1140, 1.1189–1.1191, 1.1275–1.1292, 1.1330, 1.1395–1.1413, 1.1474–1.1481, 1.1513–1.1535, 1.1571, 1.1607–1.1622, 1.1666, 1.1689. No macroeconomic or fundamental events are scheduled for Tuesday, but Monday already showed us that the market may continue selling off the dollar even without any news.
Support and Resistance Levels: These are target levels for opening or closing positions and can also serve as points for placing Take Profit orders.
Red Lines: Channels or trendlines indicating the current trend and the preferred direction for trading.
MACD Indicator (14,22,3): A histogram and signal line used as a supplementary source of trading signals.
Important Events and Reports: Found in the economic calendar, these can heavily influence price movements. Exercise caution or exit the market during their release to avoid sharp reversals.
Forex trading beginners should remember that not every trade will be profitable. Developing a clear strategy and practicing proper money management are essential for long-term trading success.
*Analiza tržišta koja se ovde nalazi namenjena je boljem razumevanju tržišta i ne pruža instrukcije za vršenje trgovanja.
Uz InstaSpot-ove analitičke preglede uvek ćete biti u toku sa tržišnim trendovima! Klijentima InstaSpot-a su dostupni mnogobrojni besplatni servisi za uspešno trgovanje.
