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!
From a technical perspective, the lack of any follow-through buying suggests that the recent downtrend might still be far from being over. Moreover, technical indicators on the daily chart are holding deep in the bearish territory and still far from being in the oversold zone. This, along with the recent break below a short-term ascending trend-line extending from September 2020 swing lows, favors bearish traders.
From the current levels, any meaningful slide might continue to find decent support near the 1.1700 mark. A convincing break below will reaffirm the bearish outlook and prompt some aggressive technical selling. The pair might then accelerate the fall towards intermediate support near the 1.1665-60 area before eventually dropping to the lows from November 2020 around the 1.1600 round figure.
On the flip side, bulls might wait for a move beyond the overnight swing high around the 1.1755 area before placing fresh bets. Any subsequent positive move might still be seen as a selling opportunity and remain capped 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 this mark 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।