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 test of the price at 1.1717 occurred when the MACD indicator had moved significantly below the zero line, limiting the pair's downward potential. For this reason, I did not sell the euro. The second test of 1.1717 triggered Buy Scenario #2, as the MACD was already in oversold territory, driving the pair up by more than 40 pips.
Yesterday, the European Central Bank decided not to change interest rates, clearly signaling the end of the easing phase of monetary policy. The upward revision of forecasts and positive changes in policymakers' plans indicate greater resilience in the eurozone economy than previously thought. However, despite the optimistic assessments, the ECB remains cautious. The accompanying statement to the interest rate decision emphasizes that economic instability persists, and the central bank is closely monitoring developments. Special attention will be paid to inflation, as keeping it at the target level of around 2% remains a priority for the ECB.
Today, key economic indicators will be published in the first half of the day: the GfK consumer sentiment barometer for Germany, the German producer price index, the ECB current account balance, and the eurozone consumer confidence indicator. This data will provide insights into the current state and the dynamics of development of the German and broader European economies. In particular, the GfK consumer climate index reflects German households' willingness to spend and their confidence in the future. Positive values indicate optimism and a likely increase in consumer spending, which is good for the economy and the euro. The German producer price index, on the other hand, is a significant measure of inflationary pressure in the industry. An increase in producer prices may also positively impact the euro in the future.
Regarding the intraday strategy, I will primarily focus on implementing Scenarios #1 and #2.
Important: Beginner traders in the Forex market should be very cautious when making entry decisions. It is best to avoid the market before the release of important fundamental reports to avoid getting caught in sharp price fluctuations. If you decide to trade during news releases, always set stop orders to minimize losses. Without stop orders, you can quickly lose your entire deposit, especially if you do not use money management and trade in large volumes.
Remember that successful trading requires a clear trading plan, similar to the one presented above. Making spontaneous trading decisions based on the current market situation is inherently a losing strategy for an intraday trader.
*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।
