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!
Technical outlook:
EURUSD finally reverses after hitting 1.2150 levels last week; confirming bears are back in control. Also note that prices revered after testing trend line resistance and from just above the fibonacci 0.618 retracement of the entire drop between 1.2350 and 1.1704 levels respectively. Potential target now remains 1.1300 levels at least, in the next few weeks.
EURUSD had earlier dropped through 1.2013 lows today, before finding some support. It is seen to be trading close to 1.2050 levels at this point in writing and might be preparing to turn lower again towards 1.1980 intraday. Immediate price support is at 1.1993 mark, while resistance comes in around 1.2150 levels respectively.
The overall trend has turned lower since 1.2350 highs. EURUSD bears are looking poised to resume their next major leg lower from here and it is quite possible to test the March 2020 lows around 1.0636 levels, going forward. We shall review the situation again around 1.1300 mark, which is fibonacci 0.618 retracement of the entire rally between 1.0636 and 1.2350 levels respectively.
Trading plan:
Remain short stop @ 1.2250, target @ 1.1300.
Good luck!
*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।
