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 broke through the 1.2177 level yesterday before pulling back. It is once again seen to be testing the trend resistance line of 5 months since January 06, 2021 on the daily chart. Ideally, bears are likely to dominate the pair as long as prices stay below the 1.2350 level. A test of 1.2210 might be possible before reversing lower again.
EURUSD dropped below the 1.2126 low early today. It is seen to be trading around the 1.2145 level at this point in writing. The currency is likely to face immediate resistance at 1.2242, followed by 1.2350; while support is seen at the 1.1986 level respectively. We need to see a break below the 1.1986 level to confirm that the pair may reach a top and bears are back in control.
EURUSD bulls have certainly managed to develop a short-term edge by rallying through 1.2177 highs but it remains to be seen if they could manage to hold it. A drop below 1.2020 would turn the tide in favor of bears again. Overall, the structure might complete on a drop to the 1.1300 level at least over the next few weeks.
Trading plan:
Remain short, stop @ 1.2350, target @ 1.1300 and further.
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।
