Analysis for August 18th, 2014
EUR USD, “Euro vs US Dollar”
Euro is still consolidating; sellers are supported by Super Trends, which are still influenced by “bearish cross”. Possibly, during the day the price may break the H4 Super Trend downwards and stay below it. In this case, the market may start a new descending movement.
As we can see at the H1 chart, the pair rebounded from the 7/8 twice. If later the market is able to break the 4/8 level downwards and stay below it, the price may start falling again; the first target will be at the 0/8 level.
EUR JPY, “Euro vs Japanese Yen”
The pair rebounded from the 4/8 level and the daily Super Trend, which is a strong bearish signal. I’ve got only one sell order so far, but if later the market is able to stay below the 3/8 level, I’ll open another sell order.
As we can see at the H1 chart, last Friday the price rebounded from the 8/8 level. The market is moving between Super Trends so far, but in the nearest future, it is expected to break them downwards. Later the pair may continue falling and reach the 1/8 level, at least.
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
AUD/USD stands firm above 0.6500 with markets bracing for Aussie PPI, US inflation
The Aussie Dollar begins Friday’s Asian session on the right foot against the Greenback after posting gains of 0.33% on Thursday. The AUD/USD advance was sponsored by a United States report showing the economy is growing below estimates while inflation picked up. The pair traded at 0.6518.
EUR/USD mired near 1.0730 after choppy Thursday market session
EUR/USD whipsawed somewhat on Thursday, and the pair is heading into Friday's early session near 1.0730 after a back-and-forth session and complicated US data that vexed rate cut hopes.
Gold soars as US economic woes and inflation fears grip investors
Gold prices advanced modestly during Thursday’s North American session, gaining more than 0.5% following the release of crucial economic data from the United States. GDP figures for the first quarter of 2024 missed estimates, increasing speculation that the US Fed could lower borrowing costs.
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.