Analysis for September 18th, 2014
EURUSD, “Euro vs US Dollar”
After breaking the minimum, Eurodollar continued moving inside “oversold zone”. Possibly, during the day the price may complete a local correction and break the -2/8 level. In this case, the lines at the cart will be redrawn.
As we can see at the H1 chart, the price hasn’t been able to stay below the 5/8 level on the first try. If the pair breaks Super Trend downwards, I’m planning to increase my short position expecting the price to break the 4/8 level and continue falling.
XAGUSD, “Silver vs US Dollar”
Silver is also moving inside “oversold zone”. Earlier it was supported by the 0/8 level and the H4 Super Trend. During a local correction, I opened another sell order.
The lines at the H4 and H1 charts are completely the same. In the near term, the price is expected to break the -2/8 level. In this case, the lines at the chart will be redrawn. I’m planning to move my stop to the previous maximum near Super Trend as soon as the price breaks a local minimum.
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 clings to daily gains above 1.0650
EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD reversed its direction and advanced to the 1.2450 area after touching a fresh multi-month low below 1.2400 in the Asian session. The positive shift seen in risk mood on easing fears over a deepening Iran-Israel conflict supports the pair.
Gold holds steady at around $2,380 following earlier spike
Gold stabilized near $2,380 after spiking above $2,400 with the immediate reaction to reports of Israel striking Iran. Meanwhile, the pullback seen in the US Treasury bond yields helps XAU/USD hold its ground.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price shows no signs of directional bias while it holds above $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research.
Week ahead – US GDP and BoJ decision on top of next week’s agenda
US GDP, core PCE and PMIs the next tests for the Dollar. Investors await BoJ for guidance about next rate hike. EU and UK PMIs, as well as Australian CPIs also on tap.