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
The euro is trading near 1.0660, the lower boundary of the range. Its top-down breakout is possible.
The main event of this week is the report on US consumer prices to be released on Tuesday.
There is a likelihood that the inflation rate may exceed market expectations.
In this case, the US market is expected to intensify the last week's correction.
Thus, the euro will break below 1.0660 and then head towards 1.0500.
How to trade? An aggressive strategy suggests that you can go long at current prices with a view to hitting the target area of 1.0800-1.0900.
If you are a conservative trader, it is worth waiting for the price to slide to the 1.0500 zone before opening long positions.
If inflation turns out to be low, the euro will gain value. In this case, it will be possible to sell the pair at 1.0900 and above.
*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.