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!
The main outcome of the European Central Bank's meeting clarified the timing of the monetary easing cycle. The first interest rate cut is planned for June. Overall, this aligns with market expectations, so the euro did not sharply drop. Especially considering that the single currency is already significantly oversold locally. Nevertheless, the dollar will gradually strengthen in the medium term. Of course, there will be various corrections and stagnant periods along this path, but ultimately, the dollar will come closer to parity. Speaking of corrections, this will likely happen today, both due to the overbought nature of the US currency and the empty economic calendar.
The EUR/USD actively shows a bearish bias during the week, with movement reaching 1.5%. As a result, the quote hit the support level of 1.0700.
On the 4-hour chart, the RSI is hovering in the oversold zone, which suggests that the instrument may be due for a price correction.
On the same chart, the Alligator's MAs are headed downwards, corresponding to the direction of the bearish cycle.
In order to increase the volume of short positions despite aignals of oversold conditions, the price must settle below the level of 1.0700. Otherwise, the level will act as support, leading to a bounce.
In terms of complex indicator analysis, indicators point to a downward cycle in the short-term and intraday periods.
*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।
