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 USD/CAD pair is moving sideways in the short term but the bias remains bullish. The upside pressure is strong as the Japanese Yen Futures remain bearish. It's located at 109.30 at the time of writing and it seems determined to hit new highs.
Fundamentally, the Japanese Flash Manufacturing PMI came in at 48.1 versus the 48.8 expected, while the National Core CPI reported only a 2.9% growth versus the 3.0% growth estimated, weakening the JPY.
On the other hand, Canada is to release the Retail Sales indicator which is expected to report a 0.0% growth, while Core Retail Sales may announce a 0.3% growth. Positive data could lift the currency pair.
Technically, the CAD/JPY pair was trapped between 108.88 and 109.27 levels. The range was seen as an upside continuation formation.
Now, it is challenging the 109.27 and the 61.8% (109.32) retracement level. The median line (ML) represents a dynamic resistance.
A bullish closure above the 61.8% Fibonacci level (109.32) activates an upside continuation and an imminent breakout above the median line (ML). Jumping and stabilizing above the median line (ML) is seen as a buying opportunity.
*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।
