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!
Several macroeconomic reports are scheduled for Tuesday, May 19. The most interesting data will come from the UK—reports on unemployment, changes in unemployment numbers, and wages. However, we do not believe that the market's reaction to these data will be significant. The geopolitical factor remains the most important for traders. In the US, there will be an utterly unnecessary weekly ADP report, while the Eurozone's event calendar is completely empty.
Among the fundamental events on Tuesday are the speeches of Christopher Waller (Federal Reserve) and Philip Lane (European Central Bank). Last week, it became known that the ECB may raise the key interest rate at the next meeting, while the Fed will wait until the fourth quarter to assess inflation and make a decision. However, hawkish expectations regarding the Bank of England have sharply declined after the market saw forecasts for UK April inflation. It is expected that inflation may drop to 3%, which would make Britain one of the few countries to avoid accelerating inflation amid the war in the Middle East and the closure of the Strait of Hormuz. In this case, there would be no grounds for the British central bank to raise the key interest rate.
The geopolitical backdrop has become slightly more positive and optimistic, but we must remind ourselves that new pessimistic data could arrive at any moment. Washington and Tehran still cannot agree on the most important issues, so the market must be content that negotiations have not yet completely broken down.
On the second trading day of the week, both currency pairs may trade somewhat sluggishly, but any geopolitical news could spark a new market storm. On Monday, the US dollar lost ground amid conciliatory messages from the White House, but it is crucial for the conflict to return to a path of de-escalation. The euro can be traded today in the range of 1.1655-1.1666, while the British pound can be traded in the ranges of 1.3380-1.3386 and 1.3456-1.3476. Geopolitics remains the key influencing factor in the currency market.
Price levels (areas) of support and resistance – levels that are targets when opening purchases or sales, or sources of signals.
Red lines – channels or trend lines that display the current trend and indicate which direction is preferable to trade now.
MACD indicator (14, 22, 3) – histogram and signal line – a supporting indicator that can also be used as a source of signals.
Important speeches and reports (contained in the news calendar) can significantly influence the movement of the currency pair. Therefore, during their release, trading should be done as cautiously as possible, or one should exit the market to avoid a sharp price reversal against the preceding movement.
Beginners trading in the Forex market should remember that not every trade can be profitable. Developing a clear strategy and sound money management are key to long-term trading success.
*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।
