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!
Very few macro releases are scheduled for Friday. Only the University of Michigan consumer-sentiment index will be published in the United States. This index can move markets when it deviates from expectations, but the market is unlikely to pay much attention right now. Over the past month, we have seen illogical, frankly speculative moves, and the dollar has risen most days. Local reasons for euro or pound strength are unlikely today, though on a broader view some rebound in European currencies would be reasonable: the dollar looks overbought and unjustifiably expensive.
Among Friday's fundamental events are speeches by European Central Bank executive board member Isabel Schnabel and Federal Reserve FOMC member Susan Collins. Yesterday ECB chief economist Philip Lane said further tightening is necessary but stressed the importance of balancing risks. So the ECB will likely continue to raise rates in response to high inflation — but this factor currently lacks market impact. As for the Fed, markets have already priced in an October hike and now expect further tightening in December.
The geopolitical backdrop remains worrying. The US and Iran are not holding official talks now, though Donald Trump keeps saying a deal could be signed after the US midterms. Trump also repeatedly claims the Russia–Ukraine conflict could end very soon — a refrain he has used for nearly two years — so the market is skeptical. Recent headlines show Yemen launched operations against the Houthis, and the Houthis continue to strike Saudi energy infrastructure and tankers. Thus tensions in the Middle East are heating up, contrary to the US president's public comments.
On the last trading day of the week, currency pairs can easily renew declines, since the move no longer depends on fundamentals, geopolitics, or macro data. Trade the euro from the 1.1198–1.1218 area, and the pound from the 1.3259–1.3267 area. Volatility today may be low.
Price levels (areas) of support and resistance serve as targets for opening buy or sell trades or as sources of signals.
Red lines indicate channels or trend lines that show the current trend and the preferred trading direction.
The MACD indicator (14,22,3) — the histogram and signal line — is an auxiliary indicator that can also provide signals.
Important speeches and reports (listed in the news calendar) can significantly influence currency pair movements. Therefore, during their release, traders should approach trading with utmost caution, or exit the market to avoid sudden reversals against the preceding move.
Beginner forex traders should remember that not every trade can be profitable. Developing a clear strategy and practicing money management are key to long-term success in trading.
*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।
