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!
Yesterday, the UK released inflation data for March. Core CPI declined from 3.0% y/y to 2.8% y/y, and headline CPI dropped from 2.8% y/y to 2.6% y/y, below the forecast of 2.7% y/y. The attempt by the pound to rise toward the target level of 1.3311 was halted — the day ended with a gain of only 11 points, and this morning, the price is already moving into the 1.3184–1.3208 range.
However, the daily chart shows that the price has precisely tested the upper boundary of the upward price channel. This test occurred a day earlier than our projection, but the bulls have done their job, and everything is now set for a reversal.
The growth from January 13 to April 16 is perfectly described by the Fibonacci grid. The 23.6% retracement level coincides with our support at 1.3101, and the 38.2% level aligns with the target range of 1.2816/47. The Kruzenshtern line is also heading toward that zone. A break below this support could pave the way for a long-term decline in the pound.
On the four-hour chart, the price is attempting to enter the 1.3184–1.3208 support range as the Marlin oscillator reaches the boundary of the downward trend territory. A simultaneous breakout below support by both the price and the oscillator will strengthen the bearish momentum. The first target is 1.3101.
*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।
