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!
Key Takeaways:
Morning Brief:Germany's industrial production saw a year-on-year drop of 3.0%, outpacing expectations of a 2.4% decline and showing a slight improvement from November's 4.3% fall. However, a month-on-month decrease of 1.6% versus an anticipated 0.4% suggests ongoing challenges. Despite this, yesterday's unexpected rise in German Factory Orders, driven by large-scale purchases, hints at potential sectoral recovery, though broad-based improvements remain absent.
Technical Market Outlook:EUR/USD experienced a notable rebound from its weekly low of 1.0724, testing this threshold twice before advancing. Yet, resistance at 1.0768 and 1.0781 caps potential gains, placing bulls at a critical juncture. With momentum weak and the outlook bearish, support at 1.0755 becomes crucial for near-term stability.
H4 Time Frame Technical Insights:The presence of bearish engulfing patterns and a shooting star candlestick signals potential reversals, while two hammers suggest a possible bullish turnaround. The pair's position below both the 50-DEMA and 100-EMA reinforces bearish sentiment, despite a balanced RSI of 47.01.
EUR/USD H1 Intraday Indicator Analysis:Current indicators show a mixed signal with a predominance of buy signals (16 out of 22), contrasting with moving averages that lean towards sell signals (10 out of 18). This divergence underscores the market's uncertainty.
Sentiment Scoreboard:The sentiment is cautiously optimistic, with a majority bullish outlook (56%) against 44% bearish sentiment, maintaining a stable trend from the previous week.
Weekly Pivot Points:Key levels to watch include WR3 at 1.08147 and WS3 at 1.07391, with the weekly pivot at 1.07769 serving as a barometer for short-term direction.
Trading Insights for EUR/USD
For bulls, a sustained move above the 50-DEMA and 100-EMA, validated by rising RSI, could mark the beginning of a bullish trend, targeting higher resistance levels.
Conversely, bears should watch for price rejection at key EMAs and a breakdown below recent hammers, potentially extending the downtrend towards lower support zones.
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।
