Analysis for March 17th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar continues growing. The closest level, which may stop the bullish rally, is the 5/8 one. If the price rebounds from this level quickly, bears may return to the market. Otherwise, the pair will continue moving upwards.
At the H1 chart, Eurodollar is moving inside “overbought zone”. The pair may start a new local correction from the +1/8 level. If later the market rebounds from the H4 Super Trend, the price will continue growing towards the +2/8 level.
NZD JPY, “New Zealand Dollar vs Japanese Yen”
The price is already moving above the 5/8 level, which means that bulls may return to the market. Possibly, quite soon the pair may break this month’s high. I’m planning to increase my position after Super Trends form “bullish cross”.
At the H1 chart, the pair is moving in the middle. Yesterday, Super Trends formed “bullish cross” and I decided to open a buy order. In the nearest future, the market may move upwards to reach the 5/8 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
EUR/USD rises to daily tops past 1.0800 post-NFP
The selling bias in the Greenback gathers extra pace on Friday after the US economy created fewer jobs than initially estimated in April, lifting EUR/USD to the area of fresh peaks above 1.0800.
GBP/USD surpasses 1.2600 after disheartening US Payrolls
The resumption of the downward pressure in the US Dollar motivates GBP/USD to extend its earlier advance to the area beyond 1.2600 the figure in the wake of the release of US NFP.
Gold climbs to new highs above $2,300 on poor NFP prints
The precious metal maintains its bullish stance and breaks above the $2,300 barrier on Friday after US Nonfarm Payrolls showed the economy added fewer jobs than expected during last month.
XRP edges up after week-long decline as Ripple files letter in reply to SEC’s motion
Ripple filed a letter to the court to support its April 22 motion to strike new expert materials. The legal clash concerns whether SEC accountant Andrea Fox's testimony should be treated as a summary or expert witness.
Week ahead – BoE and RBA decisions headline a calm week
Bank of England meets on Thursday, unlikely to signal rate cuts. Reserve Bank of Australia could maintain a higher-for-longer stance. Elsewhere, Bank of Japan releases summary of opinions.