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!
Retail sales in the United States rose 2.3% year-on-year in May 2024, following a downwardly revised 2.7% increase in April. The result in May was significantly worse than the 2.8% forecast. But surprisingly the dollar did not sharply fall. In general, the market remained stable. The U.S. industrial production data provided support to the dollar, which, unlike retail sales, turned out to be significantly better than expected. The decline rate was expected to slow from -0.4% to -0.1%. However, the previous data were first revised downward to -0.7%, which should have exerted pressure on the dollar. But instead, the decline turned into a rise of 0.4%. Such good results boosted the dollar so it managed to hold its ground.
Today, the market is expected to remain stagnant due to the public holiday in the United States.
EUR/USD has been trading above the 1.0700 level for the second consecutive day, indicating support. As a result, the volume of short positions decreased, leading to a pullback and the price was also stagnant above this level.
On the four-hour chart, the RSI technical indicator is hovering in the lower area of 50/70, thus reflecting bearish sentiment among traders.
On the same chart, the Alligator's MAs are intertwined, suggesting a slowdown in the downward cycle.
In order to raise the volume of short positions, the price must consolidate below the 1.0700 level during the day. If this happens, the price may move towards the year's local low. However, if the price fails to settle below the key level then the euro may gradually recover.
The complex indicator analysis shows unstable readings in the short-term and intraday periods as the price is stagnant.
*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।
