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 US dollar continued its active rise against the euro, pound, yen, and other assets amid the escalating geopolitical conflict.
The geopolitical conflict in the Middle East and bombings in Iran were the main reasons for yesterday's dollar growth. However, positive data on the US ISM manufacturing index also supported the American currency. Tension in the region, where the escalation of military actions between Israel, the US, and Iran reached its peak, triggered a sharp increase in the dollar, amplifying global uncertainty. The strong ISM data for the US manufacturing sector, which exceeded analysts' expectations, confirmed the resilience of the American economy amid the global slowdown.
This morning, data on the Eurozone consumer price index for February this year and the core consumer price index are expected. If inflation in the Eurozone is lower than analysts' forecasts, it will increase pressure on the European currency, raising expectations for further easing of the European Central Bank's monetary policy.
As for the British pound, the UK's annual budget is expected to be published today. Traders are anticipating this event, as industry experts predict a positive outcome after adjustments in tax policy and government spending. However, if the Chancellor of the Exchequer announces a deficit exceeding £100 billion, this could trigger a sell-off of British bonds and strengthen the dollar's position.
If the data aligns with economists' expectations, it is better to act based on the Mean Reversion strategy. If the results are significantly higher or lower than economists' expectations, the Momentum strategy would be the most suitable.
Buy on a breakout of 1.1695 may lead to a rise of the euro to around 1.1724 and 1.1748;
Sell on a breakout of 1.1660 may lead to a decline of the euro to around 1.1630 and 1.1600;
Buy on a breakout of 1.3385 may lead to a rise of the pound to around 1.3400 and 1.3421;
Sell on a breakout of 1.3390 may lead to a decline of the pound to around 1.3310 and 1.3280;
Buy on a breakout of 157.50 may lead to a rise of the dollar to around 157.75 and 158.10;
Sell on a breakout of 157.33 may lead to a dollar sell-off to around 157.05 and 156.77;
I will look for short positions after an unsuccessful breakout above 1.1711 on a return below this level;
I will look for long positions after an unsuccessful breakout above 1.1664 on a return to this level;
I will look for shorts after an unsuccessful breakout above 1.3423 on a return below this level;
I will look for longs after an unsuccessful breakout above 1.3343 on a return to this level;
I will look for shorts after an unsuccessful breakout above 0.7127 on a return below this level;
I will look for longs after an unsuccessful breakout above 0.7090 on a return to this level;
I will look for shorts after an unsuccessful breakout above 1.3684 on a return below this level;
I will look for longs after an unsuccessful breakout above 1.3655 on a return to this level;
*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।
