Analysis for November 28th, 2014
EUR USD, “Euro vs US Dollar”
Eurodollar has completed another correctional descending structure. We think, today the price may break this descending channel and continue growing. Later, in our opinion, the market may form a consolidation channel, break it upwards, and reach the main target at level of 1.2610.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is moving inside a descending channel, which may be considered as a correctional one. We think, today the price may break it and continue growing to reach the target at level of 1.5850. Later, in our opinion, the market may move downwards again to reach level of 1.5750.
USD CHF, “US Dollar vs Swiss Franc”
Franc has completed its correction. We think, today the price may leave this correctional channel downwards and continue falling to reach level of 0.9600. Later, in our opinion, the market may form a consolidation channel and continue falling towards level of 0.9565.
USD JPY, “US Dollar vs Japanese Yen”
Yen is moving inside a consolidation channel; its borders are at 118.60 and 116.80. We think, today the price may reach the upper border and then fall towards the lower one. Later, in our opinion, the market may try to reach a new maximum once again at 119.30.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar has formed a complete descending structure. We think, today the price may break its descending channel and continue growing towards level of 0.8640. Later, in our opinion, the market may start forming another consolidation channel, break it upwards, and reach level of 0.8800.
USD RUB, “US Dollar vs Russian Ruble”
Ruble continues moving upwards and extending its wave; it has already reached level of 49.00. Possibly, the price may try to extend this wave up to level of 49.90. Later, in our opinion, the market may start falling to return to level of 47.22.
XAU USD, “Gold vs US Dollar”
Gold has reached the targets of its descending correction. We think, today the price may break this correctional channel. Later, in our opinion, the market may grow to break level of 1208 and then continue moving upwards 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
EUR/USD clings to daily gains above 1.0650
EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD reversed its direction and advanced to the 1.2450 area after touching a fresh multi-month low below 1.2400 in the Asian session. The positive shift seen in risk mood on easing fears over a deepening Iran-Israel conflict supports the pair.
Gold holds steady at around $2,380 following earlier spike
Gold stabilized near $2,380 after spiking above $2,400 with the immediate reaction to reports of Israel striking Iran. Meanwhile, the pullback seen in the US Treasury bond yields helps XAU/USD hold its ground.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price shows no signs of directional bias while it holds above $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research.
Week ahead – US GDP and BoJ decision on top of next week’s agenda
US GDP, core PCE and PMIs the next tests for the Dollar. Investors await BoJ for guidance about next rate hike. EU and UK PMIs, as well as Australian CPIs also on tap.