Analysis for April 8th, 2014
AUD USD, “Australian Dollar vs US Dollar”
Bulls’ first attempt to keep price inside “overbought zone” failed; they are supported by H4 Super Trend. If Australian Dollar rebounds from it, instrument will move upwards to break the 8/8 level and then continue growing up towards the +2/8 one.
As we can see at H1 chart, Super Trends are still influenced by “bullish cross”. Possibly, bulls may break the 8/8 level during Tuesday. If later market breaks +2/8 level, lines at the chart will be redrawn.
EUR GBP, “Euro vs Great Britain Pound”
Pair is still consolidating; bears are supported by H4 Super Trend. If later bears are able to rebound from it and keep price below the 3/8 level, instrument may continue falling down towards the 0/8 level.
At H1 chart, pair is moving between Super Trends. Earlier price rebounded from the 8/8 level several times. Closest target for bears is at the 4/8 level: if they break it, market will fall down much lower.
XAG USD, “Silver vs US Dollar”
Silver is still consolidating below daily Super Trend, from which price rebounded last Friday. If price is able to stay below the 3/8 level, instrument will continue falling down towards the 0/8 one.
Silver is moving in the middle of H1 chart. Possibly, in the nearest future Super Trends may form “bearish cross”. Closest target is at the 0/8 level; bears may break it quite soon.
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 clings to daily gains above 1.0650
EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD reversed its direction and advanced to the 1.2450 area after touching a fresh multi-month low below 1.2400 in the Asian session. The positive shift seen in risk mood on easing fears over a deepening Iran-Israel conflict supports the pair.
Gold holds steady at around $2,380 following earlier spike
Gold stabilized near $2,380 after spiking above $2,400 with the immediate reaction to reports of Israel striking Iran. Meanwhile, the pullback seen in the US Treasury bond yields helps XAU/USD hold its ground.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price shows no signs of directional bias while it holds above $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research.
Week ahead – US GDP and BoJ decision on top of next week’s agenda
US GDP, core PCE and PMIs the next tests for the Dollar. Investors await BoJ for guidance about next rate hike. EU and UK PMIs, as well as Australian CPIs also on tap.