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 broke through 1.0670 intraday highs intraday on Tuesday before hitting resistance as projected. Bears came back strong thereafter, dragging prices through 1.0610-20 lows. The pair has recovered since then and is seen to be trading close to the 1.0645 mark at this point in writing. The near-term outlook remains unchanged with a bearish bias against the 1.0736 level.
EUR/USD's counter-trend rally looks complete at the 1.0736 mark as prices hit close to projected targets around 1.0750-50. The three-wave rally, which had begun from 0.9535 earlier, has further met trend line resistance as seen on the daily chart here. Furthermore, prices have met the Fibonacci 0.382 retracement around 1.0600, of the entire drop between 1.2266 and 0.9535.
EUR/USD could resume its larger degree downtrend against 1.0736 and drag further below 0.9535 in the next several weeks. On the flip side, prices could find support close to the 1.0000-100 zone and turn higher again. Either way, a high probability remains for a slip lower towards 1.0000 at least from current levels.
Potential bearish turn against 1.0750
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।
