Analysis for July 2nd, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar continues falling. Super Trends are still influenced by “bearish cross”. Earlier, the pair rebounded from the 4/8 level, which means that it may resume falling. The closest target is at the 0/8 level. After reaching it, the pair may start an ascending correction.
As we can see at the H1 chart, Super Trends have formed “bearish cross”. During the day, the pair may form a local correction and test the 2/8 level. If the pair rebounds from it, the market will continue falling towards the 0/8 level to break it.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is trying to resume moving downwards. Yesterday, Super Trends formed “bearish cross”. The price broke the 4/8 level and stayed below it, that’s why I opened a short-term sell order with the target at the 3/8 one during the local correction.
At the H1 chart, the pair is moving inside “oversold zone”; bears are supported by Super Trends. If later the price is able to break -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 risks a deeper drop in the short term
AUD/USD rapidly left behind Wednesday’s decent advance and resumed its downward trend on the back of the intense buying pressure in the greenback, while mixed results from the domestic labour market report failed to lend support to AUD.
EUR/USD leaves the door open to a decline to 1.0600
A decent comeback in the Greenback lured sellers back into the market, motivating EUR/USD to give away the earlier advance to weekly tops around 1.0690 and shift its attention to a potential revisit of the 1.0600 neighbourhood instead.
Gold is closely monitoring geopolitics
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.
Bitcoin price shows strength as IMF attests to spread and intensity of BTC transactions ahead of halving
Bitcoin (BTC) price is borderline strong and weak with the brunt of the weakness being felt by altcoins. Regarding strength, it continues to close above the $60,000 threshold for seven weeks in a row.
Is the Biden administration trying to destroy the Dollar?
Confidence in Western financial markets has already been shaken enough by the 20% devaluation of the dollar over the last few years. But now the European Commission wants to hand Ukraine $300 billion seized from Russia.