Analysis for November 27th, 2014
GBP USD, “Great Britain Pound vs US Dollar”
GBP USD. Indicator signals: Time Frame D – Tenkan-Sen and Kijun-Sen formed “Golden Cross”. Time Frame H4 – Tenkan-Sen and Kijun-Sen are influenced by “Golden Cross”; all lines are directed upwards. Chinkou Lagging Span is above the chart, Kumo Cloud is going up (2), and the price is on Senkou Span B. Short term forecast: we can expect support from Tenkan-Sen – Kijun-Sen, and growth of the price.
GBP USD, Time Frame H1. Tenkan-Sen and Kijun-Sen formed “Golden Cross” above Kumo Cloud (1). Chinkou Lagging Span is close to the chart, Kumo Cloud is heading up (2), and the price is between Tenkan-Sen and Kijun-Sen. Short term forecast: we can expect support from Senkou Span A, and growth of the price.
XAU USD, “Gold vs US Dollar”
XAU USD, Time Frame H4: Tenkan-Sen and Kijun-Sen are very close to each other above Kumo Cloud (1); they may intersect and form “Dead Cross”. Chinkou Lagging Span is on the chart, and Kumo Cloud is heading up (2). Short-term forecast: we can expect support from D Kijun-Sen, and growth of the price.
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Editors’ Picks
AUD/USD remained bid above 0.6500
AUD/USD extended further its bullish performance, advancing for the fourth session in a row on Thursday, although a sustainable breakout of the key 200-day SMA at 0.6526 still remain elusive.
EUR/USD faces a minor resistance near at 1.0750
EUR/USD quickly left behind Wednesday’s small downtick and resumed its uptrend north of 1.0700 the figure, always on the back of the persistent sell-off in the US Dollar ahead of key PCE data on Friday.
Gold holds around $2,330 after dismal US data
Gold fell below $2,320 in the early American session as US yields shot higher after the data showed a significant increase in the US GDP price deflator in Q1. With safe-haven flows dominating the markets, however, XAU/USD reversed its direction and rose above $2,340.
Bitcoin price continues to get rejected from $65K resistance as SEC delays decision on spot BTC ETF options
Bitcoin (BTC) price has markets in disarray, provoking a broader market crash as it slumped to the $62,000 range on Thursday. Meanwhile, reverberations from spot BTC exchange-traded funds (ETFs) continue to influence the market.
US economy: slower growth with stronger inflation
The dollar strengthened, and stocks fell after statistical data from the US. The focus was on the preliminary estimate of GDP for the first quarter. Annualised quarterly growth came in at just 1.6%, down from the 2.5% and 3.4% previously forecast.