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
Higher Timeframes
Bulls executed a retest yesterday, reaching the area of 1.0823 (monthly Fibonacci Kijun + upper boundary of the weekly cloud). The resistance zone of 1.0823 – 1.0868 currently combines the levels of the emerging death cross of the daily Ichimoku cloud, as well as important monthly and weekly benchmarks. Consolidation above will allow discussions about the next, more distant prospects for bullish players. For example, bulls will once again consider eliminating the weekly death cross (1.0960) and achieving the target of breaking through the daily cloud (1.1004 – 1.1065). The breakout of existing weekly supports around 1.0762 will bring relevance and opportunities for the development and strengthening of bearish sentiments, with potential targets being the daily Ichimoku cloud (1.0697 – 1.0620) and the monthly medium-term trend (1.0577).
H4 – H1
On lower timeframes, there is currently a struggle for key levels. The weekly long-term trend (1.0777) can change its slope at any moment and start supporting further recovery of bullish positions by exiting the horizontal position. In the event of an intraday rise, the classic pivot points (1.0829 – 1.0863 – 1.0898) can be used as reference points. The loss of key levels (1.0794 – 1.0777) and a return to bearish market activity will bring relevance and significance to the supports of classic pivot points (1.0760 – 1.0725 – 1.0691).
***
GBP/USD
Higher Timeframes
The pound continues to trade, relying on daily support (1.2523) and facing the resistance zone of 1.2612 – 1.2588 (daily short-term trend + weekly medium-term trend + monthly short-term trend). If freed from the above constraints, a situation may develop strengthening bullish sentiment. Subsequent benchmarks, in this case, may be the support zone (1.2458 – 1.2390), where resistance levels of all higher timeframes are currently gathered, and the resistance zone (1.2719-38 – 1.2816), combining the final level of the weekly death cross and the daily target.
H4 – H1
On lower timeframes, key levels continue to be the center of attraction, which today have practically come together in the area of 1.2562-66 (central pivot point of the day + weekly long-term trend). The horizontal arrangement of levels indicates uncertainty. Bullish activity in the current situation may develop through the rise and overcoming of the resistance of classic pivot points (1.2611 – 1.2663 – 1.2712). The development of bearish activity within the day will be possible upon the breakdown of supports of classic pivot points (1.2510 – 1.2461 – 1.2409).
***
The technical analysis of the situation uses:
Higher timeframes - Ichimoku Kinko Hyo (9.26.52) + Fibonacci Kijun levels
Lower timeframes - H1 - Pivot Points (classic) + Moving Average 120 (weekly long-term trend)
*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.
