Analysis for August 27th, 2014
EURUSD, “Euro vs US Dollar”
Euro continues falling; the market expanded its consolidation channel downwards again and reached a new low. We think, today the price may expand this channel upwards to reach level of 1.3280 and then form another descending structure to reach another new low.
GBPUSD, “Great Britain Pound vs US Dollar”
Pound continues consolidating near the channel’s lower border. If the price breaks it downwards, the pair may reach level of 1.6470; it upwards – the market may start a correction towards level of 1.6650.
USDCHF, “US Dollar vs Swiss Franc”
Franc is trying to reach a new high. We think, today the price may reach level of 0.9186. Later, in our opinion, the pair may move downwards to reach level of 0.9130, consolidate for a while, and then form a reversal structure.
USDJPY, “US Dollar vs Japanese Yen”
Yen completed a correction towards the previous descending impulse. We think, today the price may form another descending structure to reach level of 103.57. Thus, the market is forming another structure inside the wave with the target at 102.87.
AUDUSD, “Australian Dollar vs US Dollar”
Australian Dollar is still consolidating. We think, today the price may continue growing to reach this consolidation channel’s upper border at level of 0.9370. After reaching it, the market may start moving downwards to the channel’s lower border. If the price breaks the channel upwards, the market may reach the target at 0.9510; if downwards, the pair will be corrected towards level of 0.9150.
USDRUB, “US Dollar vs Russian Ruble”
Ruble is still consolidating; the market reached the channel’s lower border. We think, today the price may break it and then continue falling to reach level of 35.34. The market is expected to form a descending wave with the target at level of 34.70.
XAUUSD, “Gold vs US Dollar”
Gold is still being corrected. We think, today the price may continue forming an ascending structure towards level of 1292. Later, in our opinion, the market may move downwards to reach level of 1260 and then start higher correction towards level of 1300.
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 declines below 1.0700 as USD recovery continues
EUR/USD lost its traction and declined below 1.0700 after spending the first half of the day in a tight channel. The US Dollar extends its recovery following the strong Unit Labor Costs data and weighs on the pair ahead of Friday's jobs report.
GBP/USD struggles to hold above 1.2500
GBP/USD turned south and dropped below 1.2500 in the American session on Thursday. The US Dollar continues to push higher following the Fed-inspired decline on Wednesday and doesn't allow the pair to regain its traction.
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.