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 EUR/USD pair is consolidating near its monthly high, preparing for further growth, and the potential for a correction remains limited against a favorable fundamental backdrop. Today, the U.S. dollar attempted a modest recovery from levels last seen at the end of October, but unsuccessfully. This attempted rebound became the key factor restraining the rise of EUR/USD.
According to the latest U.S. macroeconomic data, the economy is gradually cooling, and combined with signs of a further slowdown in the U.S. labor market in November, this has strengthened expectations of a 25-basis-point rate cut at the upcoming FOMC meeting scheduled for next week. Meanwhile, expectations of a more moderate pace of rate cuts in the U.S. continue to support optimism in risk assets and may put pressure on the U.S. dollar as a safe-haven asset. At the same time, the euro continues to receive support due to the increasingly widespread recognition that the European Central Bank has completed its rate-cutting cycle. ECB President Christine Lagarde emphasized that inflation is likely to remain close to the 2% target in the coming months, confirming the likelihood of maintaining the current monetary policy stance.
Even from a technical standpoint, yesterday's break above the 100-day Simple Moving Average (SMA) was viewed as a key bullish signal for EUR/USD. This suggests that prices continue to move north along the path of least resistance, and any meaningful pullbacks may serve as good buying opportunities. Oscillators on the daily chart are positive, supporting the upbeat outlook. The pair's nearest target is the psychological level of 1.1700. A pullback may be limited by the 100-day SMA located around 1.1645.
Below is a table showing the percentage change of the U.S. dollar relative to major currencies today. The dollar was strongest against the Japanese yen.
*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।
