Analysis for October 21st, 2014
GBP USD, “Great Britain Pound vs US Dollar”
GBP USD, Time Frame H4 – Indicator signals: Tenkan-Sen and Kijun-Sen are influenced by “Golden Cross” (1). Chinkou Lagging Span is above the chart, Kumo Cloud is going up (2), and the price is above the lines. Short term forecast: we can expect growth of the price towards D Kijun-Sen.
GBP USD, Time Frame H1. Tenkan-Sen and Kijun-Sen are still influenced by “Golden Cross” (1). Chinkou Lagging Span is above the chart, Kumo Cloud is going up (2), and the price is between Tenkan-Sen and Kijun-Sen. Short term forecast: we can expect support from Kijun-Sen, and growth of the price.
XAU USD, “Gold vs US Dollar”
XAU USD, Time Frame H4: Tenkan-Sen and Kijun-Sen are still influenced by “Golden Cross” (1); all lines are directed upwards. Chinkou Lagging Span is above the chart, Kumo Cloud is going up (2), and the price is inside D Kumo. Short-term forecast: we can expect support from D Senkou Span A, and growth of the price inside D Kumo towards its upper border.
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 above 1.0700 on weaker US Dollar, upbeat Eurozone PMI
EUR/USD holds above the 1.0700 psychological barrier during the Asian session on Wednesday. The weaker-than-expected US PMI data for April drags the Greenback lower and creates a tailwind for the pair.
GBP/USD posts modest gains above 1.2450, BoE policymaker dampens hopes of summer rates cut
The GBP/USD pair recovers to 1.2450 during the early Wednesday. The downbeat US April PMI data and increasing appetite for the risk-linked space exert some selling pressure on the US Dollar.
Gold price struggles to lure buyers amid positive risk tone, reduced Fed rate cut bets
Gold price lacks follow-through buying and is influenced by a combination of diverging forces. Easing geopolitical tensions continue to undermine demand for the safe-haven precious metal. Tuesday’s dismal US PMIs weigh on the USD and lend support ahead of the key US macro data.
Crypto community reacts as BRICS considers launching stablecoin for international trade settlement
BRICS is intensifying efforts to reduce its reliance on the US dollar after plans for its stablecoin effort surfaced online on Tuesday. Most people expect the stablecoin to be backed by gold, considering BRICS nations have been accumulating large holdings of the commodity.
US versus the Eurozone: Inflation divergence causes monetary desynchronization
Historically there is a very close correlation between changes in US Treasury yields and German Bund yields. This is relevant at the current juncture, considering that the recent hawkish twist in the tone of the Fed might continue to push US long-term interest rates higher and put upward pressure on bond yields in the Eurozone.