Analysis for January 8th, 2016
GBP USD, “Great Britain Pound vs US Dollar”
GBP USD, Time Frame Daily. Indicator signals: Tenkan-Sen and Kijun-Sen are influenced by “Dead Cross” (1). Ichimoku Cloud is heading down (2), Chinkou Lagging Span is below the chart, and the price is between Tenkan-Sen and Kijun-Sen. Short-term forecast: we can expect support from Tenkan-Sen and resistance from Kijun-Sen.
GBP USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen intersected below Kumo Cloud and formed “Golden Cross” (1). Ichimoku Cloud is going up (2), Chinkou Lagging Span crossed the chart upwards, and the price is inside the cloud. Short-term forecast: we can expect support from Kijun-Sen and the cloud’s lower border.
XAU USD, “Gold vs US Dollar”
XAU USD, Time Frame Daily. Indicator signals: Tenkan-Sen and Kijun-Sen are influenced by “Golden Cross”, which was formed under Kumo Cloud (1). Chinkou Lagging Span is above the chart, Ichimoku Cloud is still moving upwards (2), and the price is between Tenkan-Sen and Kijun-Sen. Short‑term forecast: we can expect support from W Tenkan-Sen and the cloud’s lower border.
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.
Latest Forex Analysis
Editors’ Picks
EUR/USD falls toward 1.19 after robust US Nonfarm Payrolls data
EUR/USD is trading above 1.19 after dipping below that number in response to the US Nonfarm Payrolls, which showed an increase of 379K jobs in February. Higher yields in response to Powell are keeping the dollar bid.
GBP/USD recovers after post-NFP dip below 1.38
GBP/USD is trading above 1.38 bus till down the day. The US gained 379.000 jobs, roughly double than expected and supporting the dollar. The Senate's stimulus debate is eyed.
XAU/USD battles 1700 level
Gold is staging a rebound toward $1,700 amid proift-taking ahead of the weekend but remains on track to close the third straight week in the negative territory.
Ethereum price primed for a swift recovery as the network prepares for a major update in July
Ethereum price aims for a significant recovery towards $2,000. A major upgrade scheduled for July intends to fix the problem with gas fees on Ethereum. ETH miners are not happy with the decision.
US Dollar Index pushes higher to 92.20 on stellar Payrolls
The march north in the greenback remains unabated and trade in fresh 2021 highs beyond the 92.00 hurdle when tracked by the US Dollar Index (DXY).