Analysis for February 18th, 2016
EUR USD, “Euro vs US Dollar”
At the H4 chart, Eurodollar is moving between Super Trends. If later the price breaks the 3/8 level and stays below it, the market may continue falling. However, if the pair stays above the 4/8 level, it may resume moving upwards.
At the H1 chart, the current decline is supported by Super Trends, which earlier formed “bearish cross”. It’s highly likely that in the nearest future the price may resume falling and break yesterday’s low. The closest target is at the 0/8 level.
GBP JPY, “Great Britain Pound vs Japanese Yen”
The pair hasn’t been able to stay below the 0/8 level and right now is being corrected. The closest target for bulls is at the 2/8 level and the daily Super Trend. After the price is able to stay above the H4 Super Trend, the market will resume its growth.
The lines at the H4 and H1 charts are completely the same. The pair has rebounded from the 0/8 level one more time, which means that it may resume its growth. It looks like the market may try to stay above the 1/8 level 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 stays depressed near 1.0650, awaits US data and Fed verdict
EUR/USD holds lower ground near 1.0650 amid a softer risk tone and broad US Dollar strength on Wednesday. With European markets closed for Labor Day, the pair awaits the US employment data and the Fed policy announcements for the next directional move.
GBP/USD keeps losses below 1.2500 ahead of US data, Fed
GBP/USD holds lower ground below 1.2500 early Wednesday. The stronger US Dollar supports the downtick of the pair amid the cautious mood ahead of the top-tier US employment data and the all-important Fed policy announcements.
Gold sellers keep sight on $2,223 and the Fed decision
Gold price is catching a breather early Wednesday, having hit a four-week low at $2,285 on Tuesday. Traders refrain from placing fresh directional bets on Gold price, anticipating the all-important US Federal Reserve interest rate decision due later in the day.
Ethereum dips below key level as Hong Kong ETFs underperform
Ethereum experienced a further decline on Tuesday following a disappointing first-day trading volume for Hong Kong's spot Bitcoin and ETH ETFs. This comes off the back of increased long liquidations and mixed whale activity surrounding the top altcoin.
Federal Reserve meeting preview: The stock market expects the worst
US stocks are a sea of red on Tuesday as a mixture of fundamental data and jitters ahead of the Fed meeting knock risk sentiment. The economic backdrop to this meeting is not ideal for stock market bulls.