Analysis for July 31st, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is resuming its decline. It’s very likely that Super Trends will form “bearish cross” soon. Considering that the price is already moving below the 3/8 level, the next target will be at the 0/8 one. If the market breaks the latter level, it may continue falling much lower.
At the H1 chart, the price is trying to stay below the 3/8 level. If the pair breaks Super Trends downwards again, it may resume falling. In this case, the market is expected to break the 0/8 level and then continue falling inside “oversold zone”.
NZD USD, “New Zealand Dollar vs US Dollar”
As we can see at the H4 chart, Super Trends have formed “bearish cross”. I’m holding several sell orders with the stop loss above the local high. The closest target is at the 4/8 level: after reaching it, the price may start a local ascending correction.
At the H1 chart, the market may rebound from the -2/8 level and the lines at the chart will be redrawn. Earlier Super Trends formed “bearish cross”. Later, during the correction, I’m planning to open an additional 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 holds firm above 1.0700 ahead of German inflation data
EUR/USD trades on a firm footing above 1.0700 early Monday. The pair stays underpinned by a softer US Dollar, courtesy of the USD/JPY sell-off and a risk-friendly market environment. Germany's inflation data is next in focus.
USD/JPY recovers after testing 155.00 on likely Japanese intervention
USD/JPY is recovering ground after crashing to 155.00 on what seemed like a Japanese FX intervention. The Yen tumbled in early trades amid news that Japan's PM lost 3 key seats in the by-election. Holiday-thinned trading exaggerates the USD/JPY price action.
Gold price bulls move to the sidelines as focus shifts to the crucial FOMC policy meeting
Gold price struggles to capitalize on its modest gains registered over the past two trading days and edges lower on the first day of a new week, albeit the downside remains cushioned.
Ripple CTO shares take on ETHgate controversy, XRP holders await SEC opposition brief filing
Ripple loses all gains from the past seven days, trading at $0.50 early on Monday. XRP holders have their eyes peeled for the Securities and Exchange Commission filing of opposition brief to Ripple’s motion to strike expert testimony.
Week ahead: FOMC and jobs data in sight
May kicks off with the Federal Open Market Committee meeting and will be one to watch, scheduled to make the airwaves on Wednesday. It’s pretty much a sealed deal for a no-change decision at this week’s meeting.