Analysis for October 28th, 2014
EURUSD, “Euro vs US Dollar”
Euro is forming an ascending structure, which may be considered as the third wave. We think, today the price may complete this structure with the target at level of 1.2770 and then fall towards level of 1.2700. Later, in our opinion, the market may continue moving upwards to reach level of 1.2930, consolidate there, and then form an upside continuation pattern with the target at 1.3220.
GBPUSD, “Great Britain Pound vs US Dollar”
Pound is moving inside the third ascending wave. We think, today the price may grow to reach level of 1.6200. Later, in our opinion, the market may consolidate for a while and form an upside continuation pattern with the target at level of 1.6400. After that, the pair may form a correction to return to level of 1.6200 and then start the fifth wave towards level of 1.6530.
USDCHF, “US Dollar vs Swiss Franc”
Franc is moving inside the third descending wave. We think, today the price may reach level of 0.9450 and then return to level of 0.9500. Later, in our opinion, the market may continue falling to reach level of 0.9350.
USDJPY, “US Dollar vs Japanese Yen”
Yen is forming another descending structure. We think, today the price may continue falling to reach the next target at 106.70 and then return to level of 107.40. Later, in our opinion, the market may resume moving inside the downtrend. The next target will be at level of 105.00.
AUDUSD, “Australian Dollar vs US Dollar”
Australian Dollar has formed an upside continuation pattern near the broken border of triangle pattern. We think, today the price may grow towards level of 0.8880 and then fall to return to level of 0.8800.
USDRUB, “US Dollar vs Russian Ruble”
Ruble is still forming the third ascending wave; the pair has broken another consolidation channel. We think, today the price may grow towards level of 42.58. we should note that the market has already reached its upside targets and may start a fast descending movement towards level of 34.00 at any moment.
XAUUSD, “Gold vs US Dollar”
Gold is under pressure and continues moving downwards. Possibly, today the price may make another attempt to reach level of 1218. Later, in our opinion, the market may start forming another ascending wave with the target at level of 1260.
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
GBP/USD stays weak near 1.2400 after UK Retail Sales data
GBP/USD stays vulnerable near 1.2400 early Friday, sitting at five-month troughs. The UK Retail Sales data came in mixed and added to the weakness in the pair. Risk-aversion on the Middle East escalation keeps the pair on the back foot.
EUR/USD extends its downside below 1.0650 on hawkish Fed remarks
The EUR/USD extends its downside around 1.0640 after retreating from weekly peaks of 1.0690 on Friday. The hawkish comments from Federal Reserve officials provide some support to the US Dollar.
Gold: Middle East war fears spark fresh XAU/USD rally, will it sustain?
Gold price is trading close to $2,400 early Friday, reversing from a fresh five-day high reached at $2,418 earlier in the Asian session. Despite the pullback, Gold price remains on track to book the fifth weekly gain in a row.
Bitcoin Price Outlook: All eyes on BTC as CNN calls halving the ‘World Cup for Bitcoin’
Bitcoin price remains the focus of traders and investors ahead of the halving, which is an important event expected to kick off the next bull market. Amid conflicting forecasts from analysts, an international media site has lauded the halving and what it means for the industry.
Israel vs. Iran: Fear of escalation grips risk markets
Recent reports of an Israeli aerial bombardment targeting a key nuclear facility in central Isfahan have sparked a significant shift out of risk assets and into safe-haven investments.