Analysis for September 30th, 2014
EUR USD, “Euro vs US Dollar”
After rebounding from the H4 Super Trend, Euro is trying to stay below the 0/8 level. In the near term, the price is expected to continue falling inside “oversold zone” towards the -2/8 level.
As we can see at the H1 chart, after a short consolidation between Super trends, the market is starting a new descending movement. Possibly, the pair may break the -2/8 level during the day. In this case, the lines at the chart will be redrawn.
XAG USD, “Silver vs US Dollar”
Silver is still consolidating; bears are supported by the H4 Super Trend. I’m planning to close my position partially when the price reaches the 0/8 level and the rest of it when the market reaches the -1/8 one.
At the H1 chart, Silver is consolidating. Considering that the price is supported by Super Trends and the 2/8 level, it’s quite logical to expect the downtrend to resume. The main target is at the -2/8 level.
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
How will US Dollar react to Q1 GDP data? – LIVE
The US' GDP is forecast to grow at an annual rate of 2.5% in the first quarter of the year. The US Dollar struggles to find demand as investors stay on the sidelines, while waiting to assess the impact of the US economic performance on the Fed rate outlook.
EUR/USD holds gains above 1.0700, as key US data loom
EUR/USD holds gains above 1.0700 in the European session on Thursday. Renewed US Dollar weakness offsets the risk-off market environment, supporting the pair ahead of the key US GDP and PCE inflation data.
GBP/USD extends recovery above 1.2500, awaits US GDP data
GBP/USD is catching a fresh bid wave, rising above 1.2500 in European trading on Thursday. The US Dollar resumes its corrective downside, as traders resort to repositioning ahead of the high-impact US advance GDP data for the first quarter.
Gold price edges higher amid weaker USD and softer risk tone, focus remains on US GDP
Gold price (XAU/USD) attracts some dip-buying in the vicinity of the $2,300 mark on Thursday and for now, seems to have snapped a three-day losing streak, though the upside potential seems limited.
XRP extends its decline, crypto experts comment on Ripple stablecoin and benefits for XRP Ledger
Ripple extends decline to $0.52 on Thursday, wipes out weekly gains. Crypto expert asks Ripple CTO how the stablecoin will benefit the XRP Ledger and native token XRP.