Analysis for March 15th, 2016
EUR USD, “Euro vs US Dollar”
Yesterday, Eurodollar broke the H4 Super Trend and stayed below it. It’s highly likely that in the nearest future the market may continue falling. The closest target for bears is at the 2/8 level and the weekly Super Trend.
At the H1 chart, Super Trends have formed “bearish cross”. Earlier, the price rebounded from the 7/8 level several times. It looks like during the day Eurodollar may continue falling towards the 4/8 level.
NZD USD, “New Zealand Dollar vs US Dollar”
At the H4 chart, New Zealand Dollar is moving between Super Trends. Last Friday, the pair rebounded from the 7/8 level once again. In the nearest future, the market is expected to continue moving downwards to reach the 3/8 level.
At the H1 chart, the pair is getting closer to the 1/8 level. If later the price breaks this level on the first try and stays below it, the pair may continue falling and reach the -2/8 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 regains traction, recovers above 1.0700
EUR/USD regained its traction and turned positive on the day above 1.0700 in the American session. The US Dollar struggles to preserve its strength after the data from the US showed that the economy grew at a softer pace than expected in Q1.
GBP/USD returns to 1.2500 area in volatile session
GBP/USD reversed its direction and recovered to 1.2500 after falling to the 1.2450 area earlier in the day. Although markets remain risk-averse, the US Dollar struggles to find demand following the disappointing GDP data.
Gold holds around $2,330 after dismal US data
Gold fell below $2,320 in the early American session as US yields shot higher after the data showed a significant increase in the US GDP price deflator in Q1. With safe-haven flows dominating the markets, however, XAU/USD reversed its direction and rose above $2,340.
XRP extends its decline, crypto experts comment on Ripple stablecoin and benefits for XRP Ledger
Ripple extends decline to $0.52 on Thursday, wipes out weekly gains. Crypto expert asks Ripple CTO how the stablecoin will benefit the XRP Ledger and native token XRP.
After the US close, it’s the Tokyo CPI
After the US close, it’s the Tokyo CPI, a reliable indicator of the national number and then the BoJ policy announcement. Tokyo CPI ex food and energy in Japan was a rise to 2.90% in March from 2.50%.