Analysis for July 10th, 2014
AUD USD, “Australian Dollar vs US Dollar”
Correction has almost reached the 3/8 level when price started falling down very fast. If Australian Dollar is able to stay below Super Trends in the nearest future, pair will continue moving downwards to reach the 0/8 level.
Possibly, Super Trends may form “bearish cross” in the nearest future. After later pair breaks the 3/8 level downwards, price will continue falling down towards the 0/8 one. If later pair rebounds from it, market will start more serious correction.
EUR GBP, “Euro vs Great Britain Pound”
Price is still being corrected between Super Trends; bears are supported by them and the 1/8 level. If pair rebounds from current levels, bears will easily break the 0/8 level downwards.
As we can see at H1 chart, bears are trying to find support at the 2/8 level; price has almost reached this level, which means that market may start falling down quite soon. If later instrument breaks the -2/8 level, lines at the chart will be redrawn.
XAG USD, “Silver vs US Dollar”
Silver is still consolidating and supported by H4 Super Trend and the 6/8 level. If price rebounds from these levels, bulls will start new ascending movement towards the 8/8 one.
As we can see at H1 chart, Silver rebounded from the 6/8 level three times; later, Super Trends formed “bullish cross”. Possibly, in the nearest future instrument may break the +2/8 level. In this case, lines at the chart will be redrawn.
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
USD/JPY pops and drops on BoJ's expected hold
USD/JPY reverses a knee-jerk spike to 142.80 and returns to the red below 142.50 after the Bank of Japan announced on Friday that it maintained the short-term rate target in the range of 0.15%-0.25%, as widely expected. Governor Ueda's press conference is next in focus.
AUD/USD bears attack 0.6800 amid PBOC's status-quo, cautious mood
AUD/USD attacks 0.6800 in Friday's Asian trading, extending its gradual retreat after the PBOC unexpectedly left mortgage lending rates unchanged in September. A cautious market mood also adds to the weight on the Aussie. Fedspeak eyed.
Gold consolidates near record high, bullish potential seems intact
Gold price regained positive traction on Thursday and rallied back closer to the all-time peak touched the previous day in reaction to the Federal Reserve's decision to start the policy easing cycle with an oversized rate cut.
Ethereum rallies over 6% following decision to split Pectra upgrade into two phases
In its Consensus Layer Call on Thursday, Ethereum developers decided to split the upcoming Pectra upgrade into two batches. The decision follows concerns about potential risks in shipping the previously approved series of Ethereum improvement proposals.
Bank of Japan set to keep rates on hold after July’s hike shocked markets
The Bank of Japan is expected to keep its short-term interest rate target between 0.15% and 0.25% on Friday, following the conclusion of its two-day monetary policy review. The decision is set to be announced during the early Asian session.
Moneta Markets review 2024: All you need to know
VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.