Analysis for March 16th, 2016
EURUSD, “Euro vs US Dollar”
Eurodollar has been able to stay under the H4 Super Trend and the 3/8 level as well. Consequently, in the nearest future the market may continue falling. The closest target for bears is at the 2/8 level and the daily Super Trend.
At the H1 chart, Super Trends have formed “bearish cross”. Earlier, the price rebounded from the 7/8 level several times and resumed moving downwards. During the day, Eurodollar may break its local low and then continue falling towards the 4/8 level.
NZDUSD, “New Zealand Dollar vs US Dollar”
New Zealand Dollar has been able to stay under the weekly Super Trend, and earlier it didn’t manage to stay above the 7/8 level. Consequently, later the pair may continue falling. The closest target for bears is at the 2/8 level. If this level is broken, the market will continue falling deeper.
At the H1 chart, Super Trends have formed “bearish cross”. It’s highly likely that after completing the local correction, the pair will continue falling inside “oversold zone”. If later the price breaks the -2/8 level, the lines at the chart will be redrawn.
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EUR/USD declines below 1.0700 as USD recovery continues
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GBP/USD struggles to hold above 1.2500
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Gold stuck around $2,300 as market players lack directional conviction
Gold extended its daily slide and dropped below $2,290 in the second half of the day on Thursday. The benchmark 10-year US Treasury bond yield erased its daily losses after US data, causing XAU/USD to stretch lower ahead of Friday's US jobs data.
Top 3 Price Prediction BTC, ETH, XRP: Altcoins to pump once BTC bottoms out, slow grind up for now
Bitcoin reclaiming above $59,200 would hint that BTC has already bottomed out, setting the tone for a run north. Ethereum holding above $2,900 keeps a bullish reversal pattern viable despite falling momentum. Ripple coils up for a move north as XRP bulls defend $0.5000.
Happy Apple day
Apple is due to report Q1 results today after the bell. Expectations are soft given that Apple’s Chinese business got a major hit in Q1 as competitors increased their market share against the giant Apple.