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!
Technical Market Outlook:
The EUR/USD pair has bounced from the trend line support on the H4 time frame chart after a failed attempt to break out above the last swing high located at the level of 1.1076. The key short-term technical resistance is seen at the level of 1.1000 was violated and will now act as the technical support. The key short-term technical support is seen at the level of 1.0910 and any breakout below this level would be a bearish pressure indication. The momentum is slightly negative on the H4 time frame chart, so the market is not ready yet to continue the up trend towards the 1.1280, which is 61% Fibonacci retracement level of the whole, big wave down that started in January 2021. Please notice, that the short-term up trend is still intact and the key level for bulls is seen at 1.0910.
Weekly Pivot Points:
WR3 - 1.10312
WR2 - 1.10077
WR1 - 1.09962
Weekly Pivot - 1.09842
WS1 - 1.09727
WS2 - 1.09607
WS3 - 1.09372
Trading Outlook:
Since the beginning of October 2022 the EUR/USD is in the corrective cycle to the upside, but the main, long-term trend remains bearish. This corrective cycle might had been terminated at the level of 1.2080 which is 61% Fibonacci retracement level. The EUR had made a new multi-decade low at the level of 0.9538, so as long as the USD is being bought all across the board, the down trend will continue towards the new lows.
*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।
