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!
Today, Friday, the EUR/USD pair continues to decline from its December high. The weakening of the currency pair is driven by negative data on eurozone manufacturing activity, which has strengthened bearish sentiment toward the euro amid relatively quiet New Year trading conditions. Nevertheless, the EUR/USD rate remains close to the three-month high of 1.1808, reached just before the holidays.
Over the past year, the U.S. dollar has fallen by approximately 14% against the euro amid market concerns about the inconsistency of U.S. policy under Donald Trump, as well as signs of a slowdown in the U.S. economy and differences in monetary policy between the ECB and the Federal Reserve.
The latest final PMI data for Germany and the eurozone — the manufacturing Purchasing Managers' Index — point to a deterioration in the contribution of manufacturing activity to the region's gross domestic product. Today, attention should also be paid to the release of the final U.S. PMI data (S&P), which may bring fresh movement to the dollar's dynamics.
From a technical perspective, the pair has found support at the 20-day SMA, while oscillators on the daily chart remain in positive territory, confirming the bulls' ability to hold their ground. If prices fall below the 20-day SMA, the next support will be found at the round level of 1.1700. Below this level, the bias would shift in favor of the bears. Conversely, if prices manage to break above the 9-day EMA, followed by the 1.1760 level, a successful move through it would accelerate the advance toward the round level of 1.1800.
The table below shows the percentage change of the euro against major currencies today. The most notable strengthening of the euro was recorded 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।
