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 been seen coming off the local high located at the level of 1.0695 after the ABC corrective pattern had been completed. Moreover, the wave C of the ABC pattern has hit the 100% extension of the wave A, so there is another indication of a possible down trend resumption. The nearest technical support is seen at the level of 1.0640 and the nearest technical resistance is located at the level of 1.0737. The next target for bulls is seen at the level of 1.0737 (swing high from September 20th). The next target for bears is the technical support located at the level of 1.0614 and 1.0595, but in order to do this, they need to break out below the intraday support. If the latter is violated, then the key short-term technical support located at the level of 1.0449 would be exposed for the test.
Weekly Pivot Points:
WR3 - 1.06231
WR2 - 1.06012
WR1 - 1.05872
Weekly Pivot - 1.05793
WS1 - 1.05653
WS2 - 1.05574
WS3 - 1.05355
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 was terminated at the level of 1.1286 which is 61% Fibonacci retracement level and the market reversed lower. The intermediate down move is 16 weeks long now and there is no indication if the down move termination yet. There is still a room to the downside on the RSI indication on the weekly time frame as well.
*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।
