Analysis for September 16th, 2014
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD, Time Frame H4. Tenkan-Sen and Kijun-Sen are influenced by “Golden Cross” (1); but all lines except Kijun-Sen are directed downwards. Kumo Cloud is heading down, Chinkou Lagging Span is above the chart, and the price is on Kijun-Sen. Short term forecast: we can expect support from Kijun-Sen, resistance from Senkou Span A, and a possible support from M Kijun-Sen.
GBPUSD, Time Frame H1. Tenkan-Sen and Kijun-Sen are very close to each other below Kumo (1); both lines are directed downwards. Kumo Cloud is going down, Chinkou Lagging Span is below the chart, and the price is on H4 Kijun-Sen. Short term forecast: we can expect support from H4 Kijun-Sen, resistance from Tenkan-Sen – Kijun-Sen, and decline of the price.
XAUUSD, “Gold vs US Dollar”
XAUUSD, Time Frame H4. Tenkan-Sen and Kijun-Sen are influenced by “Dead Cross” (1); Tenkan-Sen and Senkou Span A are directed upwards. Kumo Cloud is going down (2), Chinkou Lagging Span is below the chart, and the price is between Tenkan-Sen and Kijun-Sen. Short-term forecast: we can expect growth of the price towards D Tenkan-Sen and Senkou Span A.
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 edges lower toward 1.0700 post-US PCE
EUR/USD stays under modest bearish pressure but manages to hold above 1.0700 in the American session on Friday. The US Dollar (USD) gathers strength against its rivals after the stronger-than-forecast PCE inflation data, not allowing the pair to gain traction.
GBP/USD retreats to 1.2500 on renewed USD strength
GBP/USD lost its traction and turned negative on the day near 1.2500. Following the stronger-than-expected PCE inflation readings from the US, the USD stays resilient and makes it difficult for the pair to gather recovery momentum.
Gold struggles to hold above $2,350 following US inflation
Gold turned south and declined toward $2,340, erasing a large portion of its daily gains, as the USD benefited from PCE inflation data. The benchmark 10-year US yield, however, stays in negative territory and helps XAU/USD limit its losses.
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.