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 GBP/USD pair again showed no interesting moves on Tuesday, but over the past few days, sterling has tended to drift higher. The downward correction may already be complete, and we still see no strong reasons for a sustained and confident rise in the US dollar. This does not mean the dollar must fall every day, but an upward trend persists across most timeframes. Therefore, we continue to expect the pound to appreciate. On Tuesday, there were no significant reports in the UK or US, and for more than a month the market has lacked a desire to move actively. Trends haven't been entirely absent, but daily moves have been very weak. When there is a trend, one can profit even with low volatility; when there is no trend, it is hard to make money regardless of volatility or signals. Novice traders should remember that flats and low-activity periods are a natural part of any instrument.
On the 5-minute TF on Tuesday, no trading signals were generated. The day's volatility was about 40 pips, which makes reliable signal formation and execution difficult. There were no grounds for traders to open new positions on Tuesday.
On the hourly TF, GBP/USD continues a downward corrective trend that may finish soon. We believe sterling should continue rising in the medium term under most scenarios, but a correction is underway now. On the weekly TF, the move from the lower boundary of the sideways channel toward the upper boundary continues and may not be complete yet. Thus we expect a resumption of the upward impulse.
On Wednesday, novice traders may consider short positions targeting 1.3456–1.3476 if price bounces from the 1.3587–1.3598 area. Long positions can be opened with targets of 1.3587–1.3598 in the event of a bounce from 1.3456–1.3476.
On the 5-minute TF, you can trade the levels 1.3259–1.3267, 1.3319–1.3331, 1.3380–1.3386, 1.3456–1.3476, 1.3587–1.3598, 1.3631–1.3641, 1.3695, 1.3741. No major UK or US events are scheduled on Wednesday, so we again do not expect strong moves on the week's third trading day.
Price levels (areas) of support and resistance serve as targets for opening buy or sell trades or as sources of signals.
Red lines indicate channels or trend lines that show the current trend and the preferred trading direction.
The MACD indicator (14,22,3) — the histogram and signal line — is an auxiliary indicator that can also be used as a source of signals.
Important speeches and reports (listed in the news calendar) can significantly influence currency pair movements. Therefore, during their release, traders should approach trading with utmost caution, or exit the market to avoid sudden reversals against the preceding move.
Beginner forex traders should remember that not every trade can be profitable. Developing a clear strategy and practicing money management are key to long-term success in trading.
*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.
