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 EUR/USD currency pair exhibited very weak upward movement on Tuesday but maintained an overall upward bias, with no significant correction. The macroeconomic and fundamental backdrop was relatively weak. The market paid no attention to the JOLTs report on U.S. job openings for June. It is also worth noting that more and more signals are coming from the Fed indicating that most representatives of the Monetary Committee do not consider it advisable to tighten monetary policy in the near future. Thus, the hawkish sentiment in the market is fading, which does not support the dollar, which has already appreciated on the back of the Federal Reserve's rate hike. We warned that the Fed might refrain from tightening for several reasons. If the labor market and unemployment data in the U.S. on Friday prove weak, the chances of a rate hike from the Fed in 2026 will decrease further.
On the 5-minute timeframe, no trading signals were formed on Tuesday. During the American trading session, the price interacted with the area of 1.1527-1.1531, but the movements were so weak that this interaction cannot be called a "bounce." Therefore, we would expect a trading signal to form in the indicated area today.
On the hourly timeframe, the price has exited the sideways channel it had spent a month in and is now forming a new upward trend. Considering all the events in the world in recent months, we believe that the European currency should continue its steady growth. Recently, the market has diligently ignored almost all favorable factors for the euro, so a "mutual settlement" may now begin, adjusting the exchange rate to fair value.
On Wednesday, novice traders may open short positions with targets of 1.1461-1.1474 if the price consolidates below the 1.1527-1.1531 area. Long positions will become relevant in the event of consolidation above the 1.1527-1.1531 area, with targets of 1.1584-1.1594.
On the 5-minute timeframe, the following levels should be considered: 1.1267-1.1275, 1.1366-1.1377, 1.1461-1.1474, 1.1527-1.1531, 1.1584-1.1594, 1.1655-1.1666, and 1.1745-1.1754. On Wednesday, there are no important events or publications planned in the Eurozone. At the same time, in the U.S., the ADP labor market report and the ISM services sector activity index will be released. The ADP report can be considered secondary, while the ISM index is important.
Support and resistance price levels (areas) are the targets when opening buy or sell orders or sources of signals.
Red lines denote channels or trend lines that reflect the current trend and indicate in which direction trading is currently favored.
The MACD indicator (14,22,3) – histogram and signal line – is a supporting indicator that can also be used as a source of signals.
Important speeches and reports (as listed in the news calendar) can significantly influence the movement of the currency pair. Therefore, during their release, trading should be approached with utmost caution, or one should exit the market to avoid sharp price reversals against the preceding movement.
Beginners in Forex trading should remember that not every trade can be profitable. Developing a clear strategy and proper money management are essential for 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।
