Analysis for February 27th, 2014
GBP USD, “Great Britain Pound vs US Dollar”
GBP USD, Time Frame H4. Tenkan-Sen and Kijun-Sen are very close to each other inside Kumo Cloud (1); Tenkan-Sen is directed downwards. Ichimoku Cloud is going down (2), and Chinkou Lagging Span is on the chart. Short‑term forecast: we can expect decline of the price.
GBP USD, Time Frame H1. Tenkan-Sen and Kijun-Sen are very close to each other inside Kumo Cloud (1); both lines are directed downwards. Ichimoku Cloud is going up (2), and Chinkou Lagging Span is below the chart. Short‑term forecast: we can expect resistance from Senkou Span A, and decline of the price.
XAU USD, “Gold vs US Dollar”
XAU USD, Time Frame H4. Tenkan-Sen and Kijun-Sen intersected above Kumo Cloud and formed “Golden Cross” (1). Ichimoku Cloud is going up (2), and Chinkou Lagging Span is close to the chart. Short-term forecast: we can expect attempts of the price to stay inside Kumo.
XAU USD, Time Frame H1. Tenkan-Sen and Kijun-Sen intersected inside Kumo Cloud and formed “Dead Cross” (1); Kijun-Sen and Senkou Span A are directed downwards. Ichimoku Cloud is going down (2), and Chinkou Lagging Span is below the chart. Short‑term forecast: we can expect resistance from Tenkan-Sen, and decline of the price.
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 holds below 1.0750 ahead of key US data
EUR/USD trades in a tight range below 1.0750 in the European session on Friday. The US Dollar struggles to gather strength ahead of key PCE Price Index data, the Fed's preferred gauge of inflation, and helps the pair hold its ground.
USD/JPY stays firm above 156.00 after BoJ Governor Ueda's comments
USD/JPY stays firm above 156.00 after surging above this level on the Bank of Japan's decision to leave the policy settings unchanged. BoJ Governor said weak Yen was not impacting prices but added that they will watch FX developments closely.
Gold price oscillates in a range as the focus remains glued to the US PCE Price Index
Gold price struggles to attract any meaningful buyers amid the emergence of fresh USD buying. Bets that the Fed will keep rates higher for longer amid sticky inflation help revive the USD demand.
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.
US core PCE inflation set to signal firm price pressures as markets delay Federal Reserve rate cut bets
The core PCE Price Index, which excludes volatile food and energy prices, is seen as the more influential measure of inflation in terms of Fed positioning. The index is forecast to rise 0.3% on a monthly basis in March, matching February’s increase.