Analysis for March 24th, 2016
EURUSD, “Euro vs US Dollar”
Eurodollar has rebounded from the daily Super Trend, which means that the price may start a new correction. Possibly, later the pair may test the 4/8 level. If the price rebounds from this level, the market will resume its descending movement.
At the H1 chart, Eurodollar is moving at the top. Earlier, Super Trends formed “bearish cross”. On Thursday, the pair may test the 8/8 level. If it rebounds from this level, the market will resume moving downwards.
NZDUSD, “New Zealand Dollar vs US Dollar”
New Zealand Dollar hasn’t been able to break the 3/8 level yet, which means that it may start an ascending correction. If later bulls face resistance from the 4/8 level, the market may start another descending movement and break the local low.
The lines at the H4 and H1 charts are completely the same. The Stop Loss on m current order is above the 4/8 level, because if the market breaks this level, it may start a more serious ascending correction. Moreover, other obstacles for bears are the daily and weekly Super Trends, which are at the bottom of the chart.
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 near 1.0700 after US data
EUR/USD stays in a consolidation phase at around 1.0700 in the American session on Wednesday. The data from the US showed a strong increase in Durable Goods Orders, supporting the USD and making it difficult for the pair to gain traction.
USD/JPY refreshes 34-year high, attacks 155.00 as intervention risks loom
USD/JPY is renewing a multi-decade high, closing in on 155.00. Traders turn cautious on heightened risks of Japan's FX intervention. Broad US Dollar rebound aids the upside in the major. US Durable Goods data are next on tap.
Gold stays in consolidation above $2,300
Gold finds it difficult to stage a rebound midweek following Monday's sharp decline but manages to hold above $2,300. The benchmark 10-year US Treasury bond yield stays in the green above 4.6% after US data, not allowing the pair to turn north.
Worldcoin looks set for comeback despite Nvidia’s 22% crash Premium
Worldcoin price is in a better position than last week's and shows signs of a potential comeback. This development occurs amid the sharp decline in the valuation of the popular GPU manufacturer Nvidia.
Three fundamentals for the week: US GDP, BoJ and the Fed's favorite inflation gauge stand out Premium
While it is hard to predict when geopolitical news erupts, the level of tension is lower – allowing for key data to have its say. This week's US figures are set to shape the Federal Reserve's decision next week – and the Bank of Japan may struggle to halt the Yen's deterioration.