Analysis for April 23rd, 2014
AUDUSD, “Australian Dollar vs US Dollar”
Australian Dollar is still being corrected; right now pair is testing the 4/8 level. In addition to that, we can see that market is moving close to lower border of ascending channel. That’s why I opened buy order, in case price rebounds from current levels and starts growing up again.
As we can see at H1 chart, bears are testing the 0/8 level. Possibly, they may rebound from it and if they do, I’ll move stop on my buy order into the black. If later pair breaks Super Trends upwards, I’ll increase my long position.
EURGBP, “Euro vs Great Britain Pound”
Pair is being corrected again. Possibly, bears may find support from H4 Super Trend one more time. If market breaks H4 Super Trend, price may break the 0/8 level and enter “oversold zone”.
At H1 chart, Super Trends are still influenced by “bearish cross”. Possibly, price may try to test the 3/8 level. If bears rebound from it, market will move towards the 0/8 one and break it.
XAGUSD, “Silver vs US Dollar”
Silver is still being corrected. Earlier price rebounded from H4 Super Trends several times. In the near term, instrument is expected to break local minimum and continue moving downwards to reach the 0/8 level.
As we can see at H1 chart, Silver may try to test Super Trend and the 4/8 level. If Silver rebounds from these levels and then is able to stay below the 3/8 level, instrument may start new descending movement towards the 0/8 one.
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 holds above 1.0650 after US data
EUR/USD retreats from session highs but manages to hold above 1.0650 in the early American session. Upbeat macroeconomic data releases from the US helps the US Dollar find a foothold and limits the pair's upside.
GBP/USD retreats toward 1.2450 on modest USD rebound
GBP/USD edges lower in the second half of the day and trades at around 1.2450. Better-than-expected Jobless Claims and Philadelphia Fed Manufacturing Index data from the US provides a support to the USD and forces the pair to stay on the back foot.
Gold clings to strong daily gains above $2,380
Gold trades in positive territory above $2,380 on Thursday. Although the benchmark 10-year US Treasury bond yield holds steady following upbeat US data, XAU/USD continues to stretch higher on growing fears over a deepening conflict in the Middle East.
Ripple faces significant correction as former SEC litigator says lawsuit could make it to Supreme Court
Ripple (XRP) price hovers below the key $0.50 level on Thursday after failing at another attempt to break and close above the resistance for the fourth day in a row.
Have we seen the extent of the Fed rate repricing?
Markets have been mostly consolidating recent moves into Thursday. We’ve seen some profit taking on Dollar longs and renewed demand for US equities into the dip. Whether or not this holds up is a completely different story.