Analysis for January 8th, 2014
AUD/USD
Australian Dollar was able to stay below Super Trends. Earlier price rebounded from trend line and started moving downwards again. Possibly, in the nearest future pair breaks the 0/8 level and continue falling down towards the -2/8 one.
At H1 chart, Super Trends formed “bearish cross”. Bears’ first attempt to break the 4/8 level wasn’t successful, but they may try to test this level once again during Wednesday. Closest target is at the 0/8 level.
GBP/CHF
After rebounding from Super Trends, pair started growing up again. Right now, price is already moving above the 5/8 level, which means that it may continue growing up towards the 8/8 one, which may later become starting point of more serious correction.
Pair is moving in the middle of H1 chart. After price rebounded from Super Trend, I opened one more buy order. If market is able to keep price above the 5/8 level, pair will continue growing up towards its main target at the 8/8 level.
SILVER
Silver couldn’t enter “overbought zone”. Possibly, price may try to test the 4/8 level during the day. If bulls rebound from this level, price may start new ascending movement.
The lines at the H4 and H1 charts are completely the same. Super Trends formed “bearish cross”, which isn’t very good for buyers. If market is able to keep price below the 4/8 level, I’ll close my buy order.
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
AUD/USD failed just ahead of the 200-day SMA
Finally, AUD/USD managed to break above the 0.6500 barrier on Wednesday, extending the weekly recovery, although its advance faltered just ahead of the 0.6530 region, where the key 200-day SMA sits.
EUR/USD met some decent resistance above 1.0700
EUR/USD remained unable to gather extra upside traction and surpass the 1.0700 hurdle in a convincing fashion on Wednesday, instead giving away part of the weekly gains against the backdrop of a decent bounce in the Dollar.
Gold keeps consolidating ahead of US first-tier figures
Gold finds it difficult to stage a rebound midweek following Monday's sharp decline but manages to hold above $2,300. The benchmark 10-year US Treasury bond yield stays in the green above 4.6% after US data, not allowing the pair to turn north.
Bitcoin price could be primed for correction as bearish activity grows near $66K area
Bitcoin (BTC) price managed to maintain a northbound trajectory after the April 20 halving, despite bold assertions by analysts that the event would be a “sell the news” situation. However, after four days of strength, the tables could be turning as a dark cloud now hovers above BTC price.
Bank of Japan's predicament: The BOJ is trapped
In this special edition of TradeGATEHub Live Trading, we're joined by guest speaker Tavi @TaviCosta, who shares his insights on the Bank of Japan's current predicament, stating, 'The BOJ is Trapped.'