Analysis for April 24th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is trying to start an ascending correction. Super Trends have formed “bullish cross”, which means that the pair may grow, al least for a while. During a local pullback, I opened a buy order with the target at the 6/8 level.
At the H1 chart, the pair is moving at the top. Most likely, the price will break the +2/8 level and the lines at the chart will be redrawn. I’m planning to move the stop loss on my order to breakeven as soon as the price breaks yesterday’s high.
USD CAD, “US Dollar vs Canadian Dollar”
At the H4 chart, Canadian Dollar is moving in the middle. Super Trends are still influenced by “bearish cross” and provide support. During a local correction, I opened a sell order with the target at the 2/8 level.
At the H1 chart, the price is being corrected inside “oversold zone”. Yesterday Super Trends formed “bearish cross”. The closest target is at the -2/8 level. If the pair breaks it, the 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
EUR/USD hovers around 1.0700 ahead of German IFO survey
EUR/USD is consolidating recovery gains at around 1.0700 in the European morning on Wednesday. The pair stays afloat amid strong Eurozone business activity data against cooling US manufacturing and services sectors. Germany's IFO survey is next in focus.
GBP/USD steadies near 1.2450, awaits mid-tier US data
GBP/USD is keeping its range at around 1.2450 in European trading on Wednesday. A broadly muted US Dollar combined with a risk-on market mood lend support to the pair, as traders await the mid-tier US Durable Goods data for further trading directives.
Gold: Defending $2,318 support is critical for XAU/USD
Gold price is nursing losses while holding above $2,300 early Wednesday, stalling its two-day decline, as traders look forward to the mid-tier US economic data for fresh cues on the US Federal Reserve interest rates outlook.
Crypto community reacts as BRICS considers launching stablecoin for international trade settlement
BRICS is intensifying efforts to reduce its reliance on the US dollar after plans for its stablecoin effort surfaced online on Tuesday.
Three fundamentals for the week: US GDP, BoJ and the Fed's favorite inflation gauge stand out Premium
While it is hard to predict when geopolitical news erupts, the level of tension is lower – allowing for key data to have its say. This week's US figures are set to shape the Federal Reserve's decision next week – and the Bank of Japan may struggle to halt the Yen's deterioration.