Analysis for November 27th, 2014
EUR USD, “Euro vs US Dollar”
Eurodollar is under pressure and continues moving upwards; the pair has formed a continuation pattern towards level of 1.2488. We think, today the price may test this level from above and then continue growing to reach the target at level of 1.2610.
GBP USD, “Great Britain Pound vs US Dollar”
Pound has broken its consolidation channel upwards. We think, today the price may fall towards the channel’s broken border to test it from above and then continue forming an ascending wave to reach a local target at level of 1.5850. Later, in our opinion, the market may form the fourth structure as a correction towards level of 1.5740 and then the fifth one to reach level of 1.5888.
USD CHF, “US Dollar vs Swiss Franc”
Franc is under pressure and continues moving downwards; the pair has formed a continuation pattern near level of 0.9629. We think, today the price may test the broken level from below and then continue falling towards the main target of this extension at level of 0.9533.
USD JPY, “US Dollar vs Japanese Yen”
Yen is also under pressure and continues falling. We think, today the price may continue this correction towards level of 116.76. Later, in our opinion, the market may resume moving upwards to reach a new maximum.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar has completed its descending movement and formed an ascending impulse. We think, today the price may correct this impulse and reach level of 0.8530. Later, in our opinion, the market may start forming another ascending wave with the target at level of 0.8727.
USD RUB, “US Dollar vs Russian Ruble”
Ruble has formed a continuation pattern near level of 45.93 and reached its target. Later, in our opinion, the market may form another descending wave with the target at level of 43.60.
XAU USD, “Gold vs US Dollar”
Gold is still moving downwards inside a consolidation channel. We think, today the price may continue falling and forming this consolidation channel. Possibly, it may test level of 1180. Later, in our opinion, the market may continue growing to reach a local target at 1235.
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
USD/JPY holds above 155.50 ahead of BoJ policy announcement
USD/JPY is trading tightly above 155.50, off multi-year highs ahead of the BoJ policy announcement. The Yen draws support from higher Japanese bond yields even as the Tokyo CPI inflation cooled more than expected.
AUD/USD consolidates gains above 0.6500 after Australian PPI data
AUD/USD is consolidating gains above 0.6500 in Asian trading on Friday. The pair capitalizes on an annual increase in Australian PPI data. Meanwhile, a softer US Dollar and improving market mood also underpin the Aussie ahead of the US PCE inflation data.
Gold price keeps its range around $2,330, awaits US PCE data
Gold price is consolidating Thursday's rebound early Friday. Gold price jumped after US GDP figures for the first quarter of 2024 missed estimates, increasing speculation that the Fed could lower borrowing costs. Focus shifts to US PCE inflation on Friday.
Stripe looks to bring back crypto payments as stablecoin market cap hits all-time high
Stripe announced on Thursday that it would add support for USDC stablecoin, as the stablecoin market exploded in March, according to reports by Cryptocompare.
US economy: Slower growth with stronger inflation
The US Dollar strengthened, and stocks fell after statistical data from the US. The focus was on the preliminary estimate of GDP for the first quarter. Annualised quarterly growth came in at just 1.6%, down from the 2.5% and 3.4% previously forecast.