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!
During the pull-back, the EUR/USD pair has made a new local high at the level of 1.0829. Despite this, bearish pressure remains strong. A Pin Bar candlestick formed at the top of the bounce, leading the market back into a narrow horizontal trading zone. The key technical resistance for bulls, acting as a potential gamechanger, is at 1.0896. Only a sustained breakout above this level could shift the short-term outlook to more bullish. For bears, the next targets are 1.0697 and 1.0675.
Momentum on the H4 time frame chart stays neutral as market participants await the FOMC interest rate decision, economic projections, and press conference later tonight. It is important to stay focused during these key data releases, as they can greatly impact the market and might trigger high volatility trading conditions.
Pivot Points are crucial in technical analysis. They help identify potential trend reversals, support, and resistance levels in financial markets.
The EUR/USD pair reversed from the 61% Fibonacci retracement positioned at 1.0963 after a fake breakout. The market then reversed sharply, with the price currently -2.70% lower. For a continued upward movement, a weekly close above this level is necessary. Such a breakout would serve as an initial signal for a potential long-term trend reversal in favor of the Euro.
The general sentiment on the scoreboard is bullish (60% bulls vs. 40% bears). Last week's sentiment also remained bullish (57% bulls vs. 43% bears), and the sentiment over the last three days is similarly bullish (59% bulls vs. 41% bears).
The begginers in forex trading need to be very careful when making decisions about entering the market. Before the release of important reports, it is best to stay out of the market to avoid being caught in sharp market fluctuations due to increased volatility. If you decide to trade during the news release, then always place stop orders to minimize losses.
Without placing stop orders, you can very quickly lose your entire deposit, especially if you do not use money management and trade large volumes. For successful trading, you need to have a clear trading plan and stay focues and disciplined. Spontaneous trading decision based on the current market situation is an inherently losing strategy for a scalper or daytrader.
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*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।
