Analysis for March 30th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is still forming a descending structure with the target at level of 1.0625; this structure may be considered as a correction towards the previous ascending impulse and may take the form of five-wave structure. We think, today the price may reach level of 1.0680, return to level of 1.0835, and then continue falling towards the above-mentioned target.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is still moving downwards. We think, today the price may reach level of 1.4400 and then return to level of 1.4660.
USD CHF, “US Dollar vs Swiss Franc”
Franc continues forming an ascending structure; which may be considered as a correction. We think, today the price may reach level of 0.9815 and then return to level of 0.9688. Later, in our opinion, the market may start another ascending movement with the target at level of 0.9900 (at least).
USD JPY, “US Dollar vs Japanese Yen”
Yen is attempting to form a consolidation channel and break it upwards to reach level of 120.25. Later, in our opinion, the market may resume falling towards level of 117.50.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is still extending its descending structure. We think, today the price may reach level of 0.7600 and then return to level of 0.7760. Possibly, the market may try to form another descending structure towards reach level of 0.7510.
USD RUB, “US Dollar vs Russian Ruble”
Ruble is growing to return to level of 58.50. After reaching it, the price may fall towards level of 55.00 and then grow to reach level of 58.00, thus forming a consolidation channel. Later, in our opinion, the market may start falling to reach level of 44.00.
XAU USD, “Gold vs US Dollar”
Gold continues falling; this movement may be considered as a part of a descending wave with the target at level of 1113. The first target is at level of 1187. Later, in our opinion, the market may return to level of 1203 and then continue falling inside the downtrend.
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
AUD/USD: Uptrend remains capped by 0.6650
AUD/USD could not sustain the multi-session march north and faltered once again ahead of the 0.6650 region on the back of the strong rebound in the Greenback and the prevailing risk-off mood.
EUR/USD meets a tough barrier around 1.0800
The resurgence of the bid bias in the Greenback weighed on the risk-linked assets and motivated EUR/USD to retreat to the 1.0750 region after another failed attempt to retest the 1.0800 zone.
Gold eases toward $2,310 amid a better market mood
After falling to $2,310 in the early European session, Gold recovered to the $2,310 area in the second half of the day. The benchmark 10-year US Treasury bond yield stays in negative territory below 4.5% and helps XAU/USD find support.
Bitcoin price coils up for 20% climb, Standard Chartered forecasts more gains for BTC
Bitcoin (BTC) price remains devoid of directional bias, trading sideways as part of a horizontal chop. However, this may be short-lived as BTC price action consolidates in a bullish reversal pattern on the one-day time frame.
What does stagflation mean for commodity prices?
What a difference a quarter makes. The Federal Reserve rang in 2024 with a bout of optimism that inflation was coming down to their 2% target. But that optimism has now evaporated as the reality of stickier-than-expected inflation becomes more evident.