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!
EUR/USD has rebounded in the short term but the outlook remains bearish. The bounce-back was somehow expected ahead of the US NFP and after the most recent sell-off.
As you know, the Non-Farm Payrolls showed an unexpectedly high reading of 916K in March versus 652K while economists predicted 468K in February. Moreover, the unemployment rate dropped from 6.2% to 6.0% as expected.
Surprisingly, the Average Hourly Earnings dropped by 0.1% even if the specialists have expected to see a 0.1% growth in March.
Today, the US is to release the ISM Services PMI which could increase from 55.3 to 58.3, the Final Services PMI, and the Factory Orders. In line with expectations figures or better could help the greenback to resume its growth.
Last week I told you that the pressure remains high on EUR/USD as long as the rate stands within the descending channel's body. It's traded above the pivot point (1.1752) but it could drop below it soon if the USDX jumps higher.
Technically, EUR/USD is still expected to reach the ascending pitchfork's first warning line (wl1) despite the minor rebound. Failing to reach the red downtrend line or a false breakout with great separation above it could bring a new bearish opportunity.
The bias remains bearish as long as EUR/USD stays within the down channel's body, under the downtrend line. A bearish closure under 1.1749 is seen as a selling signal with a downside target at S1 (1.1711).
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।