Analysis for August 26th, 2015
EURUSD, “Euro vs US Dollar”
After rebounding from the 8/8 level, Eurodollar has been supported by the H4 Super Trend and the 6/8 level, which means that it may resume growing. Possibly, in the nearest future the price may break the 8/8 level and continue moving upwards inside “overbought zone”.
The lines at the H4 and H1 charts are completely the same. The price is supported by Super Trends. I’m planning to increase my position after the pair is able to stay above the 8/8 level.
USDCAD, “US Dollar vs Canadian Dollar”
Canadian Dollar is attempting to stay above the 5/8 level. Earlier, the price rebounded from the H4 Super Trend and the 4/8 level. The closest target is at 7/8 level: if the pair breaks it, the market will continue growing towards the 8/8 one.
As we can see at the H1 chart, the pair is trying to rebound from the 6/8 level. The price is supported by Super Trends. During the correction, I opened another buy order with the target at 8/8 level, which may be reached during the day.
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.