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!
Yesterday's trading was the first one after the Christmas holidays, and not all market participants returned from them. The countries of the British Commonwealth – Great Britain, Canada, Australia and New Zealand celebrated Boxing Day, which means that trade volumes were reduced.
The economic calendar was literally empty. Statistics from Europe, the United States or the United Kingdom were not released.
What happened on the trading charts?
The pound continued its correction against the high of the medium-term upward trend, where the quote found a resistance above it last week, namely in the area of 1.3600/1.3625. The maximum decline of the British currency reached the level of 1.3428, where there was a temporary stop.
Moreover, the quote still remains within the side channel 1.2150/1.2275, albeit euro's local upward interest. We expected such a development when the scenario was described in the previous review.
Trading recommendation for GBP/USD on December 29
British traders are here today, but the economic calendar is still empty. The only thing to grasp is the information flow regarding Brexit.
We are interested in the comments of high-ranking officials regarding the completed deal. Perhaps, there will be criticism, statements, or something else that can affect speculators' hype.
As for price movements, traders are considering the possibility of the pound's further weakening. Sell positions will be considered below the level of 1.3425, with the prospect of moving to 1.3320.
An alternative scenario of the market development will be considered if the price is held above the level of 1.3510 in a four-hour time frame, which may lead to a recovery process against the recent correction.
Trading recommendation for EUR/USD on December 29
Similarly in Britain, there was no publication of statistics in Europe. Meanwhile, only the S&P/CaseShiller house price index is to be published in the US, where it is predicted to grow from 6.6% to 6.9%.
Traders will continue to move within the amplitude of 1.2150/1.2275, where the method of breaking a particular border is considered to be the best trading tactic.
So, moving on a breakdown implies holding the price outside the established limits, preferably for a four-hour TF. This can be followed by a movement towards a breakdown.
*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।
