Analysis for July 23rd, 2015
EURUSD, “Euro vs US Dollar”
Eurodollar is still being corrected; the price is supported by the daily Super Trend and the 2/8 level. If the pair rebounds from these levels, it may resume moving downwards to reach the 0/8 one.
At the H1 chart, the price is moving in the middle. If the price rebounds from the 4/8 level in the nearest future, bears will return to the market. After the pair stays below Super Trend, I’m planning to open an additional sell order.
NZDUSD, “New Zealand Dollar vs US Dollar”
New Zealand Dollar is still being corrected. If the price is able to break Super trends downwards, it may resume falling. The closest target is at the 0/8 level.
At the H1 chart, the current correction faced resistance from the 7/8 level: if the price rebounds from it, the market may start falling again. I’m planning to open another sell order as soon as the pair stays below the H1 Super Trend.
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 stays below 1.0700 ahead of US data
EUR/USD stays in a consolidation phase slightly below 1.0700 in the European session on Wednesday. Upbeat IFO sentiment data from Germany helps the Euro hold its ground as market focus shifts to US Durable Goods Orders data.
USD/JPY refreshes 34-year high, attacks 155.00 as intervention risks loom
USD/JPY is renewing a multi-decade high, closing in on 155.00. Traders turn cautious on heightened risks of Japan's FX intervention. Broad US Dollar rebound aids the upside in the major. US Durable Goods data are next on tap.
Gold manages to hold above $2,300
Gold struggles to stage a rebound following Monday's sharp decline but manages to hold above $2,300. The benchmark 10-year US Treasury bond yield stays in the green above 4.6% ahead of US data, not allowing XAU/USD to gain traction.
Worldcoin looks set for comeback despite Nvidia’s 22% crash Premium
Worldcoin price is in a better position than last week's and shows signs of a potential comeback. This development occurs amid the sharp decline in the valuation of the popular GPU manufacturer Nvidia.
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.