Analysis for January 18th, 2016
EUR USD, “Euro vs US Dollar”
In case of Eurodollar, the flat continues and the wave structure is becoming more and more complicated. Earlier, the pair was supported by the 2/8 level (the same as at the daily chart). In the nearest future, the market may try to update its local low.
At the H1 chart, Eurodollar is moving between Super Trends. If the price is able to stay below them, it may continue moving downwards. The closest target is at the 3/8 level. If the market breaks it, the pair will continue falling much deeper.
EUR JPY, “Euro vs Japanese Yen”
As we can see at the H4 chart, the pair has been able to stay inside “oversold zone”. During this week, the market may fall towards the -2/8 level. After reaching this level, the pair may start an ascending correction.
At the H1 chart, the price is being corrected as well. Earlier, Super Trends formed “bearish cross”. If later the market is able to stay below the 3/8 level, it may continue moving downwards. The closest target is at the 0/8 level.
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 post moderate gains on solid US data, weak Aussie PMI
The Australian Dollar registered solid gains of 0.65% against the US Dollar on Thursday, courtesy of an upbeat market mood amid solid economic data from the United States. However, the Federal Reserve’s latest monetary policy decision is still weighing on the Greenback. The AUD/USD trades at 0.6567.
EUR/USD recovers to top end of consolidation ahead of Friday’s US NFP
EUR/USD drove back to the top end of recent consolidation on Thursday, recovering chart territory north of the 1.0700 handle as market risk appetite regains balance heading into another US Nonfarm Payrolls Friday.
Gold recoils on hawkish Fed moves, unfazed by dropping yields and softer US Dollar
Gold price clings to the $2,300 figure in the mid-North American session on Thursday amid an upbeat market sentiment, falling US Treasury yields, and a softer US Dollar. Traders are still digesting Wednesday’s Federal Reserve decision to hold rates unchanged.
Ethereum may sustain trading inside key range, ETH ETFs to be delayed until 2025
Ethereum is beginning to show signs of recovery on Thursday despite a second consecutive day of poor performance in Hong Kong's spot Ethereum ETFs. Bloomberg analyst James Seyffart has also shared that a spot Ethereum ETF may not happen in the US in 2024.
FOMC in the rear-view mirror – NFP eyed
The update from May’s FOMC rate announcement proved more dovish than expected, which naturally weighed on the US dollar (sending the DXY to lows of 105.44) and US yields, as well as, initially at least, underpinning major US equity indices.