Analysis for July 16th, 2014
GBP USD, “Great Britain Pound vs US Dollar”
GBPUSD, Time Frame Н4. Tenkan-Sen and Kijun-Sen have merged near Kumo’s upper border (1). Ichimoku Cloud is closed (2). The price is on Tenkan-Sen and Kijun-Sen. Chinkou Lagging Span is on the chart. Short-term forecast: we can expect support of Senkou Span A and the attempts of price to stay below the Cloud.
GBPUSD, Time Frame Н1. Tenkan-Sen and Kijun-Sen have formed the “Dead Cross” above Kumo (1). Tenkan-Sen is going down. Chinkou Lagging Span is on the chart. Ichimoku Cloud is going up (2). The price is on Tenkan-Sen and Kijun-Sen. Short-term forecast: we can expect support of Senkou Span A and B.
XAU USD, “Gold vs US Dollar”
XAUUSD, Time Frame H4, Tenkan-Sen and Kijun-Sen are under the influence of the “Dead Cross” (1). Ichimoku Cloud is going down (2). Short-term forecast: we can expect resistance from Tenkan-Sen and Kijun-Sen and price reduction.
XAUUSD, Time Frame Н1. Tenkan-Sen and Kijun-Sen are under the influence of the “Dead Cross” (1), Ichimoku Cloud is going down (2). Chinkou Lagging Span is getting closer to the chart. Short-term forecast: we can expect resistance from Senkou Span A and price reduction.
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 stays depressed near 1.0650, awaits US data and Fed verdict
EUR/USD holds lower ground near 1.0650 amid a softer risk tone and broad US Dollar strength on Wednesday. With European markets closed for Labor Day, the pair awaits the US employment data and the Fed policy announcements for the next directional move.
GBP/USD keeps losses below 1.2500 ahead of US data, Fed
GBP/USD holds lower ground below 1.2500 early Wednesday. The stronger US Dollar supports the downtick of the pair amid the cautious mood ahead of the top-tier US employment data and the all-important Fed policy announcements.
Gold sellers keep sight on $2,223 and the Fed decision
Gold price is catching a breather early Wednesday, having hit a four-week low at $2,285 on Tuesday. Traders refrain from placing fresh directional bets on Gold price, anticipating the all-important US Federal Reserve interest rate decision due later in the day.
Ethereum dips below key level as Hong Kong ETFs underperform
Ethereum experienced a further decline on Tuesday following a disappointing first-day trading volume for Hong Kong's spot Bitcoin and ETH ETFs. This comes off the back of increased long liquidations and mixed whale activity surrounding the top altcoin.
ADP Employment Change Preview: US private sector expected to add 179K new jobs in April
The ADP report is expected to show the US private sector added 179K jobs in April. A tight labour market and sticky inflation support the Fed’s tight stance. The US Dollar seems to have entered a consolidative phase.