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!
The euro and the British pound were traded today using a Mean Reversion strategy. I did not take any trades based on the Momentum strategy.
In the second half of the day, a quiet period is expected in U.S. economic data releases, which creates an opportunity window for the euro and the British pound. Against the backdrop of current profit-taking, the euro may receive a favorable impulse for further recovery against the U.S. dollar, while buyers of the British pound may continue to benefit from strong retail sales data. According to the latest figures, retail sales in May increased by 1.2% month-on-month. This result significantly exceeded analysts' expectations of a 0.5% increase and marked a rebound after a 1.3% decline in April.
However, the temporary absence of significant macroeconomic releases from the United States reduces uncertainty and allows the market to focus on other factors influencing currency pair dynamics, including developments related to the potential signing of a memorandum between the United States and Iran. It was reported today that the Iranian negotiation delegation is postponing its trip to Switzerland due to ongoing Israeli strikes in southern Lebanon. The potential consequences of this situation remain uncertain, indicating that the Middle East issue is still unresolved.
Nevertheless, it is important to remember that currency markets are highly sensitive to unexpected news or statements from central bank officials. Therefore, despite current conditions that may support a recovery in risk assets, the possibility of renewed volatility and corrective reversals remains.
In the case of strong economic data, I will rely on the Momentum strategy. If there is no market reaction to the data, I will continue using the Mean Reversion strategy.
Momentum Strategy (Breakout) for the Second Half of the Day:
EUR/USD:
GBP/USD:
USD/JPY:
Mean Reversion Strategy (Reversion to the Mean) for the Second Half of the Day:
EUR/USD:
GBP/USD:
AUD/USD:
USD/CAD:
*Analiza tržišta koja se ovde nalazi namenjena je boljem razumevanju tržišta i ne pruža instrukcije za vršenje trgovanja.
Uz InstaSpot-ove analitičke preglede uvek ćete biti u toku sa tržišnim trendovima! Klijentima InstaSpot-a su dostupni mnogobrojni besplatni servisi za uspešno trgovanje.
