Murray levels analysis on 29 February 2016
EUR USD "Euro to US dollar"
The Eurodollar continued to decline. Earlier the SuperTrend lines formed a "bearish cross". In the short term a further decrease in quotations towards the 0/8 mark is likely. However, if the price constitutes a retreat from the 1/8 level, a beginning of an upward correction will be possible.
The price was unable to gain a foothold above the SuperTrend lines, and is trading below the indicator line again. In the short term a fall to around 2/8 is likely, a retreat from which would be the signal to a local ascending correction.
AUD USD "Австралийский доллар к доллару США"
After a series of rebounds from the week long SuperTrend, the Aussie is trying to resume its decline. After a local correction, further fall in prices is possible. The immediate goal for bears is the 3/8 mark.
On the hourly chart the price is trading in the lower part of the building of levels. Earlier, the SuperTrend lines formed a "bearish cross". During Monday a resumption of decline towards the 0/8 mark is likely.
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 edges lower toward 1.0700 post-US PCE
EUR/USD stays under modest bearish pressure but manages to hold above 1.0700 in the American session on Friday. The US Dollar (USD) gathers strength against its rivals after the stronger-than-forecast PCE inflation data, not allowing the pair to gain traction.
GBP/USD retreats to 1.2500 on renewed USD strength
GBP/USD lost its traction and turned negative on the day near 1.2500. Following the stronger-than-expected PCE inflation readings from the US, the USD stays resilient and makes it difficult for the pair to gather recovery momentum.
Gold struggles to hold above $2,350 following US inflation
Gold turned south and declined toward $2,340, erasing a large portion of its daily gains, as the USD benefited from PCE inflation data. The benchmark 10-year US yield, however, stays in negative territory and helps XAU/USD limit its losses.
Bitcoin Weekly Forecast: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.
Week ahead – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too
Fed meets on Wednesday as US inflation stays elevated. Will Friday’s jobs report bring relief or more angst for the markets? Eurozone flash GDP and CPI numbers in focus for the Euro.