Analysis for February 26th, 2015
EURUSD, “Euro vs US Dollar”
Euro is still being corrected and supported by Super Trends. The closest target is at the 2/8 level. If the market breaks it, it may continue falling and reach the 1/8 level or the 0/8 one. Later, after the price breaks the minimum, I’m planning to move my stop losses after the market.
_20150226105812.png "EURUSD")
The pair is moving in the middle of the H1 chart. Earlier, the market rebounded from the 7/8 level three times, which means that it may resume falling. Super Trends are still influenced by “bearish cross”. I’m planning to increase my short position as soon as the pair is able to stay below the 3/8 level.
EURGBP, “Euro vs Great Britain Pound”
The pair has broken the 0/8 level and right now is trying to stay inside “oversold zone”. The price is supported by the H4 Super Trend. Later the market is expected to test the -1/8 level.
At the H1 chart, the price is moving at the bottom. Earlier this week, Super Trends formed “bearish cross”. If later the pair breaks the -2/8 level, the lines at the chart will be redrawn.
GBPJPY, “Great Britain Pound vs Japanese Yen”
The main trend is still bullish. Considering that the pair has been 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, the pair is trying to enter “overbought zone”. If the price rebounds from Super Trends again, bulls may reach a new local high. In the near term, the market is expected to continue growing towards the +2/8 level.
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 gains above 1.0750 after US data
EUR/USD manages to hold in positive territory above 1.0750 despite retreating from the fresh multi-week high it set above 1.0800 earlier in the day. The US Dollar struggles to find demand following the weaker-than-expected NFP data.
GBP/USD declines below 1.2550 following NFP-inspired upsurge
GBP/USD struggles to preserve its bullish momentum and trades below 1.2550 in the American session. Earlier in the day, the disappointing April jobs report from the US triggered a USD selloff and allowed the pair to reach multi-week highs above 1.2600.
Gold struggles to hold above $2,300 despite falling US yields
Gold stays on the back foot below $2,300 in the American session on Friday. The benchmark 10-year US Treasury bond yield stays in negative territory below 4.6% after weak US data but the improving risk mood doesn't allow XAU/USD to gain traction.
Bitcoin Weekly Forecast: Should you buy BTC here? Premium
Bitcoin (BTC) price shows signs of a potential reversal but lacks confirmation, which has divided the investor community into two – those who are buying the dips and those who are expecting a further correction.
Week ahead – BoE and RBA decisions headline a calm week
Bank of England meets on Thursday, unlikely to signal rate cuts. Reserve Bank of Australia could maintain a higher-for-longer stance. Elsewhere, Bank of Japan releases summary of opinions.