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!
EUR/USD
Our expectations of a "soft surprise" from the European Central Bank did not materialize. Not only did the ECB keep its interest rate unchanged, but the Bank also maintained a neutral tone in its accompanying statement, including comments from ECB President Christine Lagarde, despite seeing a steady decline in inflation. As a result, the price did not even reach the level of 1.0696.
However, the price also did nothing to disrupt the emerging downward movement in the medium-term. And there's no reason for it to do so. Today, Germany will release its inflation data for March - the harmonized CPI is expected to fall from 2.7% y/y to 2.3% y/y. If the data even slightly exceeds expectations, investors' confidence in a rate cut in June will strengthen, as Lagarde mentioned that the ECB will not wait until inflation "returns to 2%."
We expect the euro to fall within the target range of 1.0636/56, but the price will need a little more time for this. Its first task is to overcome the intermediate support at 1.0696.
On the 4-hour chart, the price stalled at the level of 1.0724 (the lows of February 6th and April 2nd). Consolidation below it will make it possible for the price to reach 1.0696. We expect the main events to unfold next week.
*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।