Analysis for November 10th, 2015
EURUSD, “Euro vs US Dollar”
Eurodollar is still moving inside its narrow consolidation channel. We think, today, the price may continue falling inside the downtrend towards 1.0603. After that, the instrument may start consolidating again and then continue moving downwards to reach 1.0505.
GBPUSD, “Great Britain Pound vs US Dollar”
Pound has expanded its consolidation channel upwards. We think, today, the price may reach 1.5138 and then continue falling inside the downtrend towards the next target at 1.4939. After that, the instrument may consolidate again and then continue moving downwards to reach 1.4848.
USDCHF, “US Dollar vs Swiss Franc”
Franc is moving inside its narrow consolidation channel. We think, today, the price may continue growing to reach the next target at 1.0128. After that, the instrument may form another consolidation channel and then start another growth to reach 1.0200.
USDJPY, “US Dollar vs Japanese Yen”
Yen is consolidating. We think, today, the price may rebound from the 123.28 and fall towards 121.40. After that, the instrument may form another ascending structure to reach 124.00.
AUDUSD, “Australian Dollar vs US Dollar”
Australian Dollar is also consolidating. We think, today, the price may fall to reach 0.7000. An alternative scenario implies that the market may expand this consolidation channel towards 0.7107. After that, the instrument may fall to reach 0.7000 and then return to 0.7200.
USDRUB, “US Dollar vs Russian Ruble”
Ruble is still growing. We think, today, the price may reach 65.00 and then (the main scenario) continue falling inside the downtrend towards 60.00. After reaching it, the market may be corrected to return to 64.50.
XAUUSD, “Gold vs US Dollar”
Gold is moving inside its narrow consolidation channel without any particular direction. We think, today, the price may continue falling inside the downtrend. The next target is at 1077. After that, the instrument may form another consolidation channel and then continue moving downwards to reach the target at 1015.
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 trades above 1.0700 after EU inflation data
EUR/USD regained its traction and climbed above 1.0700 in the European session. Eurostat reported that the annual Core HICP inflation edged lower to 2.7% in April from 2.9% in March. This reading came in above the market expectation of 2.6% and supported the Euro.
GBP/USD recovers to 1.2550 despite US Dollar strength
GBP/USD is recovering losses to trade near 1.2550 in the European session on Tuesday. The pair rebounds despite a cautious risk tone and broad US Dollar strength. The focus now stays on the mid-tier US data amid a data-light UK docket.
Gold price remains depressed near $2,320 amid stronger USD, ahead of US macro data
Gold price (XAU/USD) remains depressed heading into the European session on Tuesday and is currently placed near the lower end of its daily range, just above the $2,320 level.
XRP hovers above $0.51 as Ripple motion to strike new expert materials receives SEC response
Ripple (XRP) trades broadly sideways on Tuesday after closing above $0.51 on Monday as the payment firm’s legal battle against the US Securities and Exchange Commission (SEC) persists.
Mixed earnings for Europe as battle against inflation in UK takes step forward
Corporate updates are dominating this morning after HSBC’s earnings report contained the surprise news that its CEO is stepping down after 5 years in the job. However, HSBC’s share price is rising this morning and is higher by nearly 2%.