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!
EURUSD dropped to the 1.0599 low during the late New York session on Wednesday before pulling back. The single currency is seen to be trading close to 1.0620 at this point in writing as the bulls prepare to unfold a counter-trend rally soon. The near-term resistance is seen around 1.0700 and a push higher will confirm a bottom in place at 1.0599.
EURUSD bears are looking inclined to drag the price lower toward 1.0500 from the current levels. A consistent break below 1.0600 will open the door to a drop further toward the 1.0480-1.0500 support as marked on the daily chart here. If the above scenario unfolds, the proposed counter-trend rally will be further delayed.
Either way, the larger-degree wave structure is indicating that EURUSD is heading lower towards 1.0100 in the next several trading weeks. Also, note that 1.0100 is the Fibonacci 0.618 retracement of the earlier rally between 0.9535 and 1.1025 respectively. If the drop unfolds as corrective, a high probability remains for a bullish reversal from 1.1025.
A potential drop against 1.1025.
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।
