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!
The US dollar index rallied through 104.24 during the New York session on Wednesday before pulling back. The index is seen to be trading close to 104.00 levels at this point in writing as the bears are ready to drag the price lower towards 102.00. On the other hand, if prices break above 104.30 consistently, the bulls would want to take out resistance at 105.35 before giving up.
The US dollar index is carving a larger-degree corrective rally, which began from 100.50 on February 02, 2023. The above corrective rally is expected to terminate close to 106.50 and up to 109.30 in the next few weeks. Within the above structure, a counter-trend drop could unfold dragging prices below 102.00 before the bulls are back.
Ideally, prices should remain above 100.50 to keep the above bullish structure intact. Furthermore, a push above 105.35 will confirm and open the door towards 106.50 and 109.30 as projected on the 4H chart here. Also, note that 109.30 is the Fibonacci 0.618 retracement of its earlier decline from 114.70 to 100.50, hence a bearish reaction is possible.
A potential bullish move to continue against 100.50
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।
