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!
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EUR/USD
As stocks fell on Friday, the euro failed to develop a full-fledged upward movement, closing the day up by 5 pips. This morning, the euro is trying to rise without external influence, but technically, the price has reached the intersection point of the upper boundary of the descending price channel and the cyclical line, from which a bearish trend reversal is expected. Also, the signal line of the Marlin oscillator has reached the border of the uptrend territory, and a reversal may occur from this line.
Therefore, the main scenario follows that the euro may fall through the nearest support at 1.0724 to the target level of 1.0632. Maybe even lower, to the lower boundary of the price channel, around the target level of 1.0440 (the 2023 low).
If the price breaks above the upper boundary of the price channel at 1.0793, the channel will be invalidated, and the price will continue to rise to the nearest target level of 1.0825 with the goal of attacking the MACD line around the 1.0870 mark.
On the 4-hour chart, the price has settled above the balance and MACD indicator lines, and Marlin is rising in the positive territory after bouncing off the zero line. The growth seems deceptive, especially since the stock market has not yet come into play. If the price returns below the MACD line (1.0763), this may bring back the bearish scenario. Today, the US and Canadian markets are closed for a holiday.
*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।
