Analysis for July 31st, 2015
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are still influenced by “Golden Cross” (1), but they are quite close to each other above Kumo Cloud. Chinkou Lagging Span is above the chart, Ichimoku Cloud is going up (2), and the price is on Kijun-Sen, inside D Kumo. Short-term forecast: we can expect support D Tenkan-Sen and resistance from D Senkou Span A – W Senkou Span A.
GBPUSD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen are influenced by “Dead Cross” (1). Chinkou Lagging Span is below the chart, Ichimoku Cloud is heading down (2), and the price is on Tenkan-Sen. Short-term forecast: we can expect support from Tenkan-Sen and resistance from Senkou Span B.
XAUUSD, “Gold vs US Dollar”
XAUUSD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen intersected below Kumo Cloud and formed “Dead Cross” (1); Tenkan-Sen and Senkou Span B are directed downwards. Chinkou Lagging Span is on the chart, Ichimoku Cloud is still moving downwards, and the price is below the lines after rebounding from Kijun-Sen. Short‑term forecast: we can expect resistance from D Tenkan-Sen, and decline of the price.
Before you enter foreign exchange and stock markets, you have to remember that trading currencies and other investment products is trading in nature and always involves a considerable risk. As a result of various financial fluctuations, you may not only significantly increase your capital, but also lose it completely. Therefore, our clients have to assure RoboForex that they understand all the possible consequences of such risks, they know all the specifics, rules and regulations governing the use of investment products, including corporate events, resulting in the change of underlying assets. Client understands that there are special risks and features that affect prices, exchange rates and investment products.
Recommended Content
Editors’ Picks
EUR/USD steady below 1.0800 after US PCE meets expectations
EUR/USD remains depressed below 1.0800 after soft French inflation data, amid minimal volatility and thin liquidity on Good Friday. The pair barely reacted to US PCE inflation data, with the Greenback shedding some pips. Fed Chair Jerome Powell set to speak ahead of the weekly close.
GBP/USD hovers around 1.2620 in dull trading
GBP/USD trades sideways above 1.2600 amid a widespread holiday restraining action across financial markets. Investors took a long weekend ahead of critical United States employment data next week. Fed Chair Powell coming up next.
Gold price sits at all-time highs above $2,230
Gold price holds near a fresh all-time high at $2,236 in thinned trading amid the Easter Holiday. Most major world markets remain closed, although the United States published core PCE inflation, the Federal Reserve’s favorite inflation gauge.
Jito price could hit $6 as JTO coils up inside this bullish pattern
Jito (JTO) price has been on an uptrend since forming a local bottom in early January. Since then, JTO has revisited the key swing point formed in early December, suggesting the bulls’ intention to move higher.
Key events in developed markets next week
Next week, the main focus will be inflation and the labour market in the Eurozone. We expect services inflation to be impacted by the easter effect, while the unemployment rate to be unchanged.