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!
Despite the stronger-than-expected eurozone PMI data, the market did very little during the trading session on Thursday. This is not surprising, given the US holiday. Without American traders, market activity comes to a standstill. American markets are open today, but it will still be a shortened trading session. However, it is quite possible that the volatility may gradually increase, as preliminary readings of business activity indexes will be published in the United States. Unlike Europe, forecasts for US are quite negative. The manufacturing index should remain unchanged, but the services index may decrease from 50.6 points to 50.5 points, causing the composite index to decrease from 50.7 points to 50.6 points. Whereas in Europe, PMIs were rising. So the dollar may have a formal reason to fall on Friday. However, given the nature of the trading day, the amount of changes will still be limited.
In an attempt to recover from a recent decline, the EUR/USD pair returned to the level around 1.0900, where it became stagnant.
On the 4-hour chart, the RSI technical indicator is hovering around the 50 mid line, indicating stagnation. At the same time, it is worth noting that the indicator preferably moves in the upper area of 50/70, which may indicate a persistent bullish sentiment among market participants.
On the same chart, according to the Alligator indicator, two out of three MA lines are intertwined. This is a potential signal of stagnation as it signifies that the trend is too weak.
In this situation, keeping the price above the level of 1.0900 may indicate an increase in the volume of long positions on the euro, which could lead to testing the local high of the upward cycle in the future.
The bearish scenario will come into play in case the price settles below 1.0850. This move will extend the corrective cycle.
The comprehensive indicator analysis in the short-term points to stagnation. In the daily period, the upward sentiment is still in force.
*这里的市场分析是为了增加您对市场的了解，而不是给出交易的指示。
InstaSpot分析评论将让您充分了解市场趋势！ 作为InstaSpot的客户，您将获得大量的免费服务以实现有效的交易。
