Analysis for April 21st, 2014
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is still moving between Super Trends. Earlier price rebounded from the 7/8 level. Right now, instrument is moving below the 5/8 level and may continue falling down towards the 4/8 one in the nearest future.
As we can see at H1 chart, market is moving inside “oversold zone”. Possibly, pair may try to test the 0/8 level once again. If pair rebounds from it, price will break the -2/8 level and the 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. Possibly, price may try to test it once again on Monday. Later pair may start new descending movement towards the 0/8 level.
At H1 chart, price is trying to stay below the 3/8 level. Earlier pair rebounded from the 4/8 level. In the near term, current correction may yet continue, but later price is expected to continue falling down towards the 0/8 level.
XAG USD, “Silver vs US Dollar”
Silver is starting new descending movement; during market opening, price formed strong bearish candlestick and I decided to move stop on my sell order into the black. After completing local correction, instrument may continue moving downwards to reach the 0/8 level.
At H1 chart, Silver is trying to stay below the 3/8 level. Earlier, price rebounded from H4 Super Trend several times. Possibly, instrument may reach new local minimum on Monday.
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.