Analysis for March 26th, 2014
EUR USD, “Euro vs US Dollar”
Euro reached new minimum. We think, today price may grow up and reach level of 1.3885. Later, in our opinion, instrument may fall down to reach new minimum again to expand its consolidation channel and then continue growing up towards target at level of 1.3990.
GBP USD, “Great Britain Pound vs US Dollar”
Pound broke maximum of its first ascending impulse. We think, today price may form consolidation channel to break descending channel and continue growing up towards level of 1.6600. Later, in our opinion, instrument may form another descending structure to reach level of 1.6430.
USD CHF, “US Dollar vs Swiss Franc”
Franc completed its ascending structure. We think, today price may start new descending movement towards level of 0.8780. Later, in our opinion, instrument may form another ascending structure to reach new maximum and then continue falling down.
USD JPY, “US Dollar vs Japanese Yen”
Yen is still consolidating; it looks like pair is forming triangle pattern. We think, today price may leave the pattern upwards to reach level of 102.70 and then fall down towards level of 100.00.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is still forming ascending structure with local target at 0.9210. We think, today price may stat new descending correction to reach level of 0.9066 and then form another ascending structure to reach level of 0.9240. After that, pair may start new descending movement towards level of 0.8400.
USD RUB, “US Dollar vs Russian Ruble”
Ruble is still forming the third wave of descending correction. We think, today price may reach level of 35.70, return to level of 36.20, and then move downwards again to form the fifth wave of this correction and reach level of 35.55.
XAU USD, “Gold vs US Dollar”
After making another descending movement, Gold is consolidating. This consolidation may be considered as continuation pattern towards level of 1279. Later, in our opinion, instrument may continue growing up to reach level of 1435.
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
USD/JPY briefly recaptures 160.00, then pulls back sharply
Having briefly recaptured 160.00, USD/JPY pulls back sharply toward 159.00 on potential Japanese FX intervention risks. The Yen tumbles amid news that Japan's PM lost 3 key seats in the by-election. Holiday-thinned trading exaggerates the USD/JPY price action.
AUD/USD extends gains above 0.6550 on risk flows, hawkish RBA expectations
AUD/USD extends gains above 0.6550 in the Asian session on Monday. The Aussie pair is underpinned by increased bets of an RBA rate hike at its May policy meeting after the previous week's hot Australian CPI data. Risk flows also power the pair's upside.
Gold stays weak below $2,350 amid risk-on mood, firmer USD
Gold price trades on a softer note below $2,350 early Monday. The recent US economic data showed that US inflationary pressures stayed firm, supporting the US Dollar at the expense of Gold price. The upbeat mood also adds to the weight on the bright metal.
Ethereum fees drops to lowest level since October, ETH sustains above $3,200
Ethereum’s high transaction fees has been a sticky issue for the blockchain in the past. This led to Layer 2 chains and scaling solutions developing alternatives for users looking to transact at a lower cost.
Week ahead: Hawkish risk as Fed and NFP on tap, Eurozone data eyed too
Fed meets on Wednesday as US inflation stays elevated. Will Friday’s jobs report bring relief or more angst for the markets? Eurozone flash GDP and CPI numbers in focus for the Euro.