Analysis for October 17th, 2014
EUR USD, “Euro vs US Dollar”
Eurodollar is still moving between Super Trends. Possibly, the market may try to test the weekly Super Trend after all: if the market rebounds from it, the pair may resume falling and break the 0/8 level.
As we can see at the H1 chart, the pair is still consolidating. I’ve got only one sell order and a pending limit order so far. However, I’m planning to increase my position after the market breaks the 2/8 level downwards and stays below it.
XAG USD, “Silver vs US Dollar”
Silver has rebounded from the daily Super Trend three times, which means that the market may continue falling. I’m planning to open another sell order as soon as the market breaks the 4/8 level and stays below it.
As we can see at the H1 chart, the price is consolidating between Super Trends. Possibly, in the future the price may break the 0/8 level and continue falling inside “oversold zone”. If the market breaks the -2/8 level, the lines at the chart will be redrawn.
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 defends 0.6400 after Chinese data dump
AUD/USD has found fresh buyers near 0.6400, hanging near YTD lows after strong China's Q1 GDP data. However, the further upside appears elusive amid weak Chinese activity data and sustained US Dollar demand. Focus shifts to US data, Fedspeak.
USD/JPY stands tall near multi-decade high near 154.50
USD/JPY keeps its range near multi-decade highs of 154.45 in the Asian session on Tuesday. The hawkish Fed expectations overshadow the BoJ's uncertain rate outlook and underpin the US Dollar at the Japanese Yen's expense. The pair stands resilient to the Japanese verbal intervention.
Gold: Buyers take a breather below $2,400 amid easing geopolitical tensions
Gold price is catching a breath below $2,400 in Asian trading on Tuesday, having risen over 1% in the US last session even on a solid US Retail Sales report, which powered the US Dollar through the roof. Easing Middle East geopolitical tensions and strong Chinese data could cap Gold's upside.
SOL primed for a breakout as it completes a rounding bottom pattern
Solana price has conformed to the broader market crash, following in the steps of Bitcoin price that remains in the red below the $65,000 threshold. For SOL, however, the sensational altcoin could have a big move in store.
Israel-Iran military conflict views and takeaways
Iran's retaliatory strike on Israel is an escalation of Middle East tensions, but not necessarily a pre-cursor to broader regional conflict. Events over the past few weeks in the Middle East, more specifically this past weekend, reinforce that the global geopolitical landscape remains tense.