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 Labor Department report showed mixed results on Friday. The US economy unexpectedly added 339K jobs, of which some 283K were added in the private sector. In the services sector, over 200K jobs are added every month. Figures continue to point to a tight labor market. Average hourly earnings grew by 0.5% m/m and by 4.5% y/y.
However, the US unemployment rate unexpectedly rose to 3.7% from 3.4%, the highest since October 2022, and exceeded market expectations of a 3.5% increase.
Financial markets reacted to the report hoping for higher interest rates without a recession. As a result, the US dollar strengthened.
Buying volumes of EUR/USD decreased on the way to 1.0800 resistance. The bullish movement slowed and a reversal occurred.
Moving up, GBP/USD touched 1.2550 resistance and pulled back. Selling volumes increased. The pair went below 1.2450.
Final services PMI data will be released in the eurozone, the UK, and the US today. Figures are projected to come in line with preliminary results which have already been priced in by the market. Therefore, they will be of little interest to traders. At the same time, the eurozone PPI will draw their attention as it will reveal further inflation developments. Anyway, figures are estimated to drop to 5.4% from 5.9%, meaning inflation will continue slowing down. So, there is little possibility of further rate hikes by the ECB. In this light, the euro will show weakness.
The euro will likely go down and reach a new low if it consolidates below 1.0700. Growth may begin if the pair rises to 1.0800.
Currently, an unexpected reversal that stopped growth may lead to a corrective move. It will become possible if quotes settle below 1.2400. The price should go above this mark to return to 1.2500.
The candlestick chart shows graphical white and black rectangles with upward and downward lines. While conducting a detailed analysis of each individual candlestick, it is possible to notice its features intrinsic to a particular time frame: the opening price, the closing price, and the highest and lowest price.
Horizontal levels are price levels, in relation to which a stop or reversal of the price may occur. They are called support and resistance levels.
Circles and rectangles are highlighted examples where the price reversed in the course of its history. This color highlighting indicates horizontal lines which can exert pressure on prices in the future.
Upward/downward arrows signal a possible future price direction.
*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।
