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 dropped to the 1.0837 lows on Tuesday, almost taking out its support around 1.0830. The single currency pair is seen to be trading around 1.0860 at this point in writing and is projected to produce a pullback rally towards 1.1000. On the flip side, if prices continue to drop below 1.0830 consistently, the instrument could drag further through 1.0500.
EUR/USD is progressing within a corrective phase after having printed a high at about 1.1275. The minimum projection for the correction to complete is around 1.0500 which is the beginning of the triangle consolidation. Also, note that potential remains for a continued drop towards 1.0200, the Fibonacci 0.618 retracement of the entire rally between 0.9535 and 1.1275.
EUR/USD has now carved a lower-degree downswing between 1.1275 and 1.0837 as seen on the daily chart here. The minimum retracement is seen through 1.1010 which could extend through the 1.1150 zone as well. Once the expected pullback is complete, we can expect the downswing to resume towards 1.0500 at least.
A potential corrective rally should resume towards 1.1000 soon.
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।
