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!
Both euro and pound saw brief rebounds, following Friday's decline. It developed into a sideways movement not only due to the empty macroeconomic calendar, but also on the Labor Day holiday in the US.
Further movement will depend today on the Producer Price Index (PPI) data in the eurozone, which forecasts say could accelerate from -3.4% to -7.8%. However, recent inflation estimates suggest that the decline will not be as impressive, hinting at a slower decrease in inflation. This could be a precursor to further tightening of the ECB's monetary policy, which will result in euro rising a bit more, pulling pound along with it. But if the forecasts come true, dollar will start to rise.
If producer prices decline sharply, it will lead to a downward trend in inflation. In such conditions, the ECB may consider easing the monetary policy.
EUR/USD continues to decline despite several attempts at partial recovery. Updating the local low will likely lead to a surge in short positions, which will further weaken the pair. An alternative scenario will be considered if the price returns above 1.0800.
GBP/USD reached the previously passed level of 1.2650, along which the volume of long positions decreased. For the decline to continue, sellers need to overcome the support level of 1.2550.
*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।
