Analysis for October 29th, 2015
EUR USD, “Euro vs US Dollar”
Yesterday, after rebounding several times form the H4 Super Trend, Eurodollar reached a new low. It’s highly likely that the price may break the -2/8 level quite soon. In this case, the lines at the chart will be redrawn.
At the H1 chart, the pair is moving inside “oversold zone” as well. During the day, Eurodollar may start a local correction, after which I’m planning to open another sell order. Later, the price may break yesterday’s low.
AUD USD, “Australian Dollar vs US Dollar”
At the H4 chart, the pair is moving in the middle. Later, the price may continue falling towards the 3/8 level. If the market breaks this level, it may continue falling to reach the bottom of the chart.
As we can see at the H1 chart, the price has reached the 0/8 level and started a correction, which may continue on Thursday. If later the market breaks the -2/8 level, the lines at the chart will be redrawn.
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 eases to near 1.0700 ahead of German inflation data
EUR/USD is paring gains to near 1.0700 in the European session on Monday. The pair stays supported 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 154.50 on likely Japanese intervention
USD/JPY is recovering ground after sliding to 154.50 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. Focus shifts to the US employment data and the Fed decision later this week.
Gold price holds steady above $2,335, bulls seem reluctant amid reduced Fed rate cut bets
Gold price (XAU/USD) attracts some buyers near the $2,320 area and turns positive for the third successive day on Monday, albeit the intraday uptick lacks bullish conviction.
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.