Analysis for December 1st, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is still moving inside “oversold zone”. It’s highly likely that on Tuesday the pair may test the ‑1/8 level once again. If it rebounds from this level, the market may resume falling towards the -2/8 one.
At the H1 chart, the price is moving in the middle. If the pair tests the 4/8 level once again and rebounds from it, the market may start a new descending movement. In this case, the first target for bears will be at the 1/8 level.
EUR JPY, “Euro vs Japanese Yen”
The pair is still being corrected. Earlier, the price rebounded from the 3/8 level. In the nearest future, the correction may yet continue, but later (if the instrument is able to stay below the H4 Super Trend) the market is expected to resume its decline.
At the H1 chart, after rebounding from the 0/8 level, the pair has started a correction. If later the market breaks the 2/8 level, it may continue moving downwards. In this case, the price may break the -2/8 level and 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 alternates gains with losses near 1.0720 post-US PCE
The bullish tone in the Greenback motivates EUR/USD to maintain its daily range in the low 1.070s in the wake of firmer-than-estimated US inflation data measured by the PCE.
GBP/USD clings to gains just above 1.2500 on US PCE
GBP/USD keeps its uptrend unchanged and navigates the area beyond 1.2500 the figure amidst slight gains in the US Dollar following the release of US inflation tracked by the PCE.
Gold keeps its daily gains near $2,350 following US inflation
Gold prices maintain their constructive bias around $2,350 after US inflation data gauged by the PCE surpassed consensus in March and US yields trade with slight losses following recent peaks.
Bitcoin Weekly Forecast: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.
Week ahead – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too
Fed meets on Wednesday as US inflation stays elevated. Will Friday’s jobs report bring relief or more angst for the markets? Eurozone flash GDP and CPI numbers in focus for the Euro.