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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Today, the EUR/USD pair is regaining ground after Friday's decline, trading just below the psychological level of 1.1000 amid mixed signals.
The U.S. dollar is struggling to capitalize on its recent rebound from a six-month low. The new week begins with weakness for the greenback, as market participants remain concerned about a potential recession in the U.S. economy—one that could prompt the Federal Reserve to resume its rate-cutting cycle earlier and more aggressively than previously anticipated.
In fact, markets are currently pricing in the possibility of four quarter-point rate cuts by the Fed in 2025. This, combined with global demand for safe-haven assets, is putting downward pressure on U.S. Treasury yields, which in turn supports the EUR/USD pair.
Nevertheless, traders should be cautious about entering aggressive long positions, due to the risks associated with an escalating trade war between the U.S. and the European Union. The EU is facing 25% import tariffs on steel, aluminum, and automobiles, as well as mutual tariffs on other goods. Moreover, later this Monday evening, the European Commission is expected to propose additional tariffs on U.S. goods in response to President Trump's actions. This could strengthen the dollar as a safe-haven asset and limit further gains in EUR/USD.
This week, in the absence of major economic data from the Eurozone, the pair will be influenced primarily by the scheduled U.S. news flow, with focus on trade developments that could significantly impact market sentiment and demand for the U.S. dollar. This creates short-term trading opportunities in the EUR/USD pair.
From a technical perspective, resistance for the pair lies at the 1.1000 psychological level, while support is located at the Asian session low around 1.0975. However, with oscillators on the daily chart remaining in positive territory, and the 9-day EMA above the 14-day EMA, bulls are not yet ready to hand over control to the bears in the EUR/USD pair.
*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।
