Analysis for February 11th, 2016
EURUSD, “Euro vs US Dollar”
Eurodollar continues growing; the current ascending movement is supported by Super Trends. It’s highly likely that in the nearest future the market may continue moving upwards to reach the 6/8 level.
The lines at the H4 and H1 charts are completely the same. Several hours ago, the price rebounded from the H1 Super Trend, which means that the market may continue moving upwards. It’s highly likely that Eurodollar may reach a new high during the day.
GBPJPY, “Great Britain Pound vs Japanese Yen”
The bearish tendency continues. Earlier, Super Trends formed “bearish cross”. If the market stays below the 3/8 level, it may continue its descending movement towards the 2/8 one.
At the H1 chart, the current decline is supported by Super Trends. The price is moving inside “oversold zone”. If later the pair breaks the -2/8 level, the lines at the chart will be redrawn.
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EUR/USD holds above 1.0650 after US data
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GBP/USD retreats toward 1.2450 on modest USD rebound
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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
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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.