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 the 101.80 highs on Wednesday before facing resistance. The index might be preparing to complete its counter-trend drop towards 100.90 in the near term before resuming higher again. It is currently seen to be trading close to 101.50 as the bears prepare to drag the price lower towards 101.00 at least, to complete the corrective pattern.
The US dollar index is structurally unfolding a down gartley, which would be complete around 105.50 at least. Potential remains for the structure to rally up to 106.50 and later on to 109.30. Also, note that 109.30 is the Fibonacci 0.618 retracement of the earlier drop between 114.70 and 100.50 levels respectively. Hence, the probability of a bearish reaction remains high.
The US dollar index has been working on its recent upswing between 100.34 and 101.80 as seen on the 4H chart. It is retracing lower towards 100.90 which is also the Fibonacci 0.618 retracement of the above rally. Watch out for a bullish reaction if prices manage to drop there as the bulls prepare to come back in control.
A potential rally against 100.00
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।
