Analysis for October 28th, 2014
EURUSD, “Euro vs US Dollar”
Eurodollar is still consolidating near the upper border of “oversold zone”; earlier Super Trends formed “bearish cross”. If the price rebounds from the current levels, the market will resume falling towards the -2/8 one.
At the H1 chart, the pair is also moving at the bottom. The current correction is taking too much time already, which resulted in “bullish cross” formed by Super Trends. I’m planning to increase my short position as soon as the price breaks the -1/8 level downwards.
XAGUSD, “Silver vs US Dollar”
Silver is still consolidating; bears are supported by Super Trends, from which the price has rebounded several times. Possibly, during the next several days the market might be able to reach a new local low and test the 1/8 level.
As we can see at the H1 chart, bears are making another attempt to break the -2/8 level. If they succeed, the lines at the chart will be redrawn. I’ll move the stops to the previous maximum as soon as the price breaks a local low.
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 fluctuates in daily range above 1.0600
EUR/USD struggles to gather directional momentum and continues to fluctuate above 1.0600 on Tuesday. The modest improvement seen in risk mood limits the US Dollar's gains as investors await Fed Chairman Jerome Powell's speech.
GBP/USD stabilizes near 1.2450 ahead of Powell speech
GBP/USD holds steady at around 1.2450 after recovering from the multi-month low it touched near 1.2400 in the European morning. The USD struggles to gather strength after disappointing housing data. Market focus shifts to Fed Chairman Powell's appearance.
Gold retreats to $2,370 as US yields push higher
Gold stages a correction on Tuesday and fluctuates in negative territory near $2,370 following Monday's upsurge. The benchmark 10-year US Treasury bond yield continues to push higher above 4.6% and makes it difficult for XAU/USD to gain traction.
XRP struggles below $0.50 resistance as SEC vs. Ripple lawsuit likely to enter final pretrial conference
XRP is struggling with resistance at $0.50 as Ripple and the US Securities and Exchange Commission (SEC) are gearing up for the final pretrial conference on Tuesday at a New York court.
US outperformance continues
The economic divergence between the US and the rest of the world has become increasingly pronounced. The latest US inflation prints highlight that underlying inflation pressures seemingly remain stickier than in most other parts of the world.