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 euro and the British pound today followed a Mean Reversion scenario, but there were no major or reverse movements. Using Momentum, I traded the Japanese yen, where it was possible to capture a decent move.
A sharp rise in German industrial production helped the euro maintain its positions against the U.S. dollar during the first half of the day, but it did not lead to fundamental changes in the market balance. The published data exceeded even the most optimistic forecasts, restoring investors' confidence in the stability of the German economy. A 1.8% rise in Germany's manufacturing sector traditionally has a significant impact on the euro's dynamics. Increased orders, higher production volumes, and expanded manufacturing capacity indicate favorable economic conditions and attract investment. However, despite today's positive trend, experts remain cautious in their forecasts.
In the second half of the day, we will only see U.S. factory orders data, which is unlikely to significantly help the dollar rise. The reason lies not only in the expected moderate dynamics of the indicators but also in the already prevailing negative sentiment of investors toward the U.S. currency. The dollar needs not just to meet expectations but to significantly exceed them to reverse the current trend. The market has already priced in many factors putting pressure on the dollar, including further potential interest rate cuts by the Federal Reserve this week. In such a situation, even moderately positive industrial orders data may be perceived only as a temporary respite, rather than a signal of sustained growth.
However, surprises cannot be ruled out. In the event of unexpectedly strong U.S. factory orders, the dollar may receive short-term support. Even this impulse, however, is likely to be offset by the overall negative backdrop.
If the data is strong, I will rely on the Momentum strategy. If the market reaction is muted, I will continue using the Mean Reversion strategy.
Momentum Strategy (Breakout) for the Second Half of the Day
EUR/USD
GBP/USD
USD/JPY
Mean Reversion Strategy (Pullback) for the Second Half of the Day
EUR/USD
GBP/USD
AUD/USD
USD/CAD
*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।
