Analysis for March 2nd, 2015
EUR USD, “Euro vs US Dollar”
Euro is trying to continue its descending movement, which it started last week. The price has broken the 4/8 level, and if later bears are able to stay below the 3/8 level, the market may continue falling towards the 1/8 one.
As we can see at the H1 chart, after breaking the 0/8 level, the pair is trying to stay inside “oversold zone”. During a local correction last Friday, I opened an additional sell order. In the future, the price may break the -2/8 level. In this case, the lines at the chart will be redrawn.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar has broken the 0/8 level and right now is moving inside “oversold zone”. Super Trends are still influenced by “bearish cross”. In the near term, the market may continue falling towards the -2/8 level and even break it.
At the H1 chart, the pair is attempting to stay below the 3/8 level. If bears succeed, the price will continue falling towards the 0/8 level. During a correction, I’ve opened another sell order.
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 recovers toward 1.0850 as risk mood improves
EUR/USD gains traction and rises toward 1.0850 on Friday. The improvement seen in risk mood makes it difficult for the US Dollar (USD) to preserve its strength and helps the pair erase a portion of its weekly losses.
GBP/USD stabilizes above 1.2700 after downbeat UK Retail Sales-led dip
GBP/USD staged a rebound and stabilized above 1.2700 after dropping to a weekly low below 1.2680 in the early European session in response to the disappointing UK Retail Sales data. The USD struggles to find demand on upbeat risk mood and allows the pair to hold its ground.
Gold rebounds to $2,340 area, stays deep in red for the week
Gold fell nearly 4% in the previous two trading days and touched its weakest level in two weeks below $2,330 on Thursday. As US Treasury bond yields stabilize on Friday, XAU/USD stages a correction toward $2,340 but remains on track to post large weekly losses.
Dogecoin inspiration Kabosu dies, leaving legacy of $22.86 billion market cap meme coin behind
Kabosu, the popular Shiba Inu dog that inspired the logo of the largest meme coin by market capitalization, Dogecoin (DOGE), died early on Friday after losing her fight to leukemia and liver disease.
Week ahead – US PCE inflation and Eurozone CPI data enter the spotlight
Dollar traders lock gaze on core PCE index. Eurozone CPIs in focus as June cut looms. Tokyo CPIs may complicate BoJ’s policy plans. Aussie awaits Australian CPIs and Chinese PMIs.