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!
EUR/USD
Contrary to our expectations, the euro did not consolidate before breaking the resistance at 1.0834, instead the price immediately overcame it as well as other significant lines. Now, the pair can reach the 1.0757 target, and upon surpassing it, the second target will be 1.0708 – the MACD line in the daily chart. The Marlin oscillator continues its firm downward movement.
Yesterday's JOLTS job openings data for October showed a sharp decline from 9.350 million to 8.733 million, indicating labor market saturation. Therefore, today's ADP data and Friday's labor data may turn out to be weaker than expected.
On the 4-hour chart, the price has settled below 1.0757, decreasing, and the Marlin oscillator has slowed down, but the decline continues. The oversold territory is still a considerable distance away. However, since the current week is filled with important economic data, caution is advised.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.