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 remains sidelined around five-month lows above 1.1700 ahead of the US inflation report. The pair defends the 1.1700 threshold, as bears take a breather amid a steady US dollar and the cautious market mood. Firmer Treasury yields could cap the upside attempts.
From a technical perspective, the bias remains tilted in favour of bearish traders in the wake of the recent break below a short-term ascending trend-line extending from September 2020 swing lows. That said, the lack of strong follow-through selling warrants some caution, making it prudent to wait for sustained weakness below the 1.1700 mark before positioning for any further depreciating move. The pair might then accelerate the fall towards intermediate support near the 1.1665-60 region en-route November 2020 swing lows, around the 1.1600 round figure.
On the flip side, attempted recovery moves might now confront resistance near the mentioned ascending trend-line support breakpoint, around mid-1.1700s. Any subsequent positive move might be seen as a selling opportunity and runs the risk of fizzling out rather quickly near the 1.1800 mark. This is followed by resistance near the 1.1830-35 region, which if cleared decisively might trigger a short-covering move. The next relevant hurdle is pegged near the 1.1880 supply zone ahead of the 1.1900 mark. A sustained strength beyond might negate the bearish bias and allow the pair to aim back to reclaim the key 1.2000 psychological mark.
*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।
