Analysis for February 18th, 2015
EURUSD, “Euro vs US Dollar”
Euro is still consolidating between Super Trends. If the price is able to stay below the 6/8 level, it may start moving towards the 4/8 one, which is the closest target.
As we can see at the H1 chart, the market is testing the 7/8 level once again, which means that it may resume falling. After a long correction, Super Trends formed “bullish cross”. I’m planning to increase my short position as soon as the pair is able to stay below the 4/8 level.
EURGBP, “Euro vs Great Britain Pound”
The pair is trying to break the 1/8 level once again; bears are still supported by Super Trends. Considering that earlier the price was able to stay below the 3/8 level, later it may break the 1/8 level and then reach the 0/8 one.
The pair is moving in the bottom of the H1 chart; the downtrend is still supported by Super Trends. If the pair is able to stay below the 0/8 level, it may continue falling towards the -2/8 one.
GBPJPY, “Great Britain Pound vs Japanese Yen”
The price is back to growing. If the pair is able to stay above the 5/8 level, it may continue growing to reach the 8/8 one and then start a more serious correction.
As we can see at the H1 chart, Super Trends have formed “bullish cross”. If the market is able to stay above the 7/8 level, it may continue growing towards the 8/8 one. In case this level is also broken, the pair will continue moving upwards inside “overbought zone”.
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 edges lower toward 1.0700 post-US PCE
EUR/USD stays under modest bearish pressure but manages to hold above 1.0700 in the American session on Friday. The US Dollar (USD) gathers strength against its rivals after the stronger-than-forecast PCE inflation data, not allowing the pair to gain traction.
GBP/USD retreats to 1.2500 on renewed USD strength
GBP/USD lost its traction and turned negative on the day near 1.2500. Following the stronger-than-expected PCE inflation readings from the US, the USD stays resilient and makes it difficult for the pair to gather recovery momentum.
Gold struggles to hold above $2,350 following US inflation
Gold turned south and declined toward $2,340, erasing a large portion of its daily gains, as the USD benefited from PCE inflation data. The benchmark 10-year US yield, however, stays in negative territory and helps XAU/USD limit its losses.
Bitcoin Weekly Forecast: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.
Week ahead – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too
Fed meets on Wednesday as US inflation stays elevated. Will Friday’s jobs report bring relief or more angst for the markets? Eurozone flash GDP and CPI numbers in focus for the Euro.