Analysis for June 26th, 2015
EURUSD, “Euro vs US Dollar”
At the H4 chart, Eurodollar is still consolidating in the middle. Possibly, in the nearest future Super Trends may form “bearish cross”. The closest target is at the 2/8 level. After reaching it, the pair may start a local ascending correction.
As we can see at the H1 chart, the price is moving inside “oversold zone”. Bears are supported by Super Trends. If later the price breaks the -2/8 level, the lines at the chart will be redrawn.
NZDUSD, “New Zealand Dollar vs US Dollar”
New Zealand Dollar is moving below the H4 Super Trend again. It looks like the price is going to break the 0/8 level during Friday. In this case, the market will continue falling towards the -2/8 level.
At the H1 chart, Super Trends may form “bearish cross” in the nearest future. I’m still holding two sell orders and planning to open another one when the price breaks the 0/8 level.
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Editors’ Picks
EUR/USD comes under pressure near 1.0630
Further gains in the Greenback encourage sellers to maintain their control over the risk complex, forcing EUR/USD to retreat further and revisit the 1.0630 region as the US session draws to a close.
GBP/USD retreats toward 1.2450 on modest USD rebound
GBP/USD edges lower in the second half of the day and trades at around 1.2450. Better-than-expected Jobless Claims and Philadelphia Fed Manufacturing Index data from the US provides a support to the USD and forces the pair to stay on the back foot.
Gold is closely monitoring geopolitics
Gold trades in positive territory above $2,380 on Thursday. Although the benchmark 10-year US Treasury bond yield holds steady following upbeat US data, XAU/USD continues to stretch higher on growing fears over a deepening conflict in the Middle East.
Ripple faces significant correction as former SEC litigator says lawsuit could make it to Supreme Court
Ripple (XRP) price hovers below the key $0.50 level on Thursday after failing at another attempt to break and close above the resistance for the fourth day in a row.
Have we seen the extent of the Fed rate repricing?
Markets have been mostly consolidating recent moves into Thursday. We’ve seen some profit taking on Dollar longs and renewed demand for US equities into the dip. Whether or not this holds up is a completely different story.