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!
Despite the significant overbought condition of the dollar, the euro practically spent the last week by gradually losing its positions. This was because the macro data clearly favored the dollar. The euro only managed to trade higher on Friday as there was no macro data scheduled for release on that day. In terms of macro data, today's situation is exactly the same, and the outcomes of the G7 summit did not bring anything new or unexpected, so there is a high probability of repeating Friday's scenario.
The downward momentum slowed down around the level of 1.0750. A retracement occurred based on a clear technical signal of oversold conditions, which pushed the quote above the 1.0800 level.
Due to the retracement, the RSI left the oversold zone on the four-hour chart and reached the 50 middle line. If the RSI remains above the 50 mark, it may signal a subsequent increase in the volume of long positions.
The Alligator moving averages are headed down in the 4-hour chart. However, there is an initial signal of a change in interests due to two out of the three MAs intersecting.
Outlook
Keeping the price above the 1.0800 level allows for a subsequent increase in long positions on the euro. In this case, the quote could rise above the 1.0850 mark, which would be the next stage in the process of the euro's recovery from a two-week correction.
In regards to the bearish scenario, the quote should drop below the 1.0750 mark. In that case, we can expect the corrective move to persist.
A comprehensive analysis of indicators in the short-term and intraday periods suggests a stage of retracement.
*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।
