Analysis for September 8th, 2014
EUR USD, “Euro vs US Dollar”
Eurodollar keeps balancing near the upper border of “oversold zone”; bears are supported by the H4 Super Trend. The target for the next several days is still at the -2/8 level.
At the H1 chart, the situation is similar. The price is supported by the 1/8 level, from which it rebounded last Friday. If later the pair breaks the -2/8 level, the lines at the chart will be redrawn.
AUD JPY, “Australian Dollar vs Japanese Yen”
The pair is consolidating near the H4 Super Trend, from which the market has already resumed growth several times. Considering that the price is moving at the 6/8 level where reverses hardly ever occur, we can’t rule out the possibility that bulls may again keep control over the situation and the pair may reach another new high.
At the H1 chart, the market is about to enter “overbought zone”; the price is supported by the 7/8 level and the H1 Super Trend. It is likely that the price may break the 8/8 level and stay above it during Monday.
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 holds above 1.0700 ahead of US jobs report
EUR/USD stays in a consolidation phase above 1.0700 after closing the previous two days in positive territory. Investors eagerly await April jobs report from the US, which will include Nonfarm Payrolls and Unemployment Rate readings.
GBP/USD advances to 1.2550, all eyes on US NFP data
The GBP/USD pair trades on a stronger note around 1.2550 amid the softer US Dollar on Friday. Market participants refrain from taking large positions as focus shifts to April Nonfarm Payrolls and ISM Services PMI data from the US.
Gold remains stuck near $2,300 ahead of US NFP
Gold price struggles to gain any meaningful traction and trades in a tight channel near $2,300. The Fed’s less hawkish outlook drags the USD to a multi-week low and lends support to XAU/USD ahead of the key US NFP data.
XRP edges up after week-long decline as Ripple files letter in reply to SEC’s motion
Ripple filed a letter to the court to support its April 22 motion to strike new expert materials. The legal clash concerns whether SEC accountant Andrea Fox's testimony should be treated as a summary or expert witness.
US NFP Forecast: Nonfarm Payrolls gains expected to cool in April
The NFP report is expected to show that the US economy added 243,000 jobs last month, sharply lower than the 303,000 job creation seen in March. The Unemployment Rate is set to stay unchanged at 3.8% in the same period.