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's inflation data from the Eurozone slightly slowed the euro's growth amid a continued stock market rally (Dow Jones +0.51%). However, considering the market's growth amid several challenges—including China's ban on rare earth metal exports, difficulties in U.S. negotiations with both China and Europe, hints that Russian gas supplies to Europe via Ukraine might be restored, and impending global energy shortages due to AI development—along with a proposed bill in Congress to impose a 20% tax on foreign investor income, this market rally appears overly optimistic.
Specifically, Eurozone core CPI for May fell from 2.7% YoY to 2.3% YoY (forecast was 2.4% YoY), and overall CPI declined from 2.2% YoY to 1.9% YoY, against an aggressive forecast of 2.0% YoY.
Yet the euro remains optimistic — yesterday's decline didn't reach any indicator lines on the daily scale, and today started with a new round of growth. Also, the Marlin oscillator's signal line turned upward without reaching the border of the downward trend territory. Only if the price consolidates below the MACD line, under the 1.1343 mark, would a deeper correction (targeting 1.1066) become possible. However, the price needs to break above the immediate resistance at 1.1420 to resume growth. The targets remain the same: 1.1535 and 1.1692.
On the H4 chart, the price consolidated below the MACD line yesterday. However, this seems to have been a false breakout, as the Marlin oscillator is now turning upward from the zero line. We believe that consolidation above 1.1420 — unlike the situation on June 2–3 (gray rectangle) — will form a more sustainable structure for further growth.
*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।
