Analysis for January 12th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar is still being corrected. If the price is able to stay under Super Trends, it may move to reach the 0/8 level. However, if the pair breaks the 1/8 level and stays above it, the market may start a new ascending movement.
At the H1 chart, Eurodollar is moving in the middle. The closest target of the current local correction is at the 2/8 level. If this level is broken, the market may fall towards the 0/8 one.
USD CAD, “US Dollar vs Canadian Dollar”
The lines at the H4 chart have been redrawn. During the next several days, Canadian Dollar may continue growing to reach the 3/8 level. If the price rebounds from it, the market may start a new descending correction.
At the H1 chart, the price is moving inside “overbought zone”; the current growth is supported by Super Trends. It’s highly likely that quite soon the pair may break the +2/8 level and 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
AUD/USD remains under pressure from RBA rate decision
AUD/USD spiked lower by more than 20 pips following the RBA rate announcement to test the key psychological support at 0.6600. Losing this key level could see the currency pair trek lower towards the 100-hour EMA support near 0.6580.
EUR/USD edges lower to near 1.0750 due to the upward correction in the US Dollar
EUR/USD snaps its four-day winning streak, trading around 1.0760 during the Asian hours on Tuesday. However, the Euro found support from higher-than-expected Eurozone Purchasing Managers Index data released on Monday.
Gold price extends its upside as markets react to downbeat jobs data
Gold price extends its recovery on Tuesday. The uptick of the yellow metal is bolstered by the weaker US dollar after recent US Nonfarm Payrolls (NFP) data boosted bets that the Federal Reserve would cut interest rates later this year.
Bitcoin miner Marathon Digital stock gains ground after listing by S&P Global
Following Bitcoin miner Marathon Digital's inclusion as an upcoming member of the S&P SmallCap 600, the company's stock received an 18% boost, accompanied by an $800 million rise in market cap.
The impact of economic indicators and global dynamics on the US Dollar
Recent labor market data suggest a cooling economy. The disappointing job creation and rising unemployment hint at a slackening demand for labor, which, coupled with subdued wage growth, could signal a slower economic trajectory.