Analysis for November 13th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is attempting to form the correction towards 1.0833 or even 1.0884. However, this growth may be only considered as an alternative scenario. The main scenario remains the same and suggests that the market may continue falling inside the downtrend. The next target is at 1.0500.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is trying to move upwards to reach 1.5255. However, this growth may be only considered as an alternative scenario. After that, the instrument may continue falling inside the downtrend. The next target is at 1.5000; the local one – 1.4848.
USD CHF, “US Dollar vs Swiss Franc”
Franc may form the correction towards 0.9951. After that, the instrument may continue growing inside the uptrend. The next target is at 1.0185; the local one – 1.0300.
USD JPY, “US Dollar vs Japanese Yen”
Yen may form the correction to reach 122.00, at least. After that, the instrument may continue growing towards 124.70.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar may try to form another ascending structure to reach 0.7170. After that, the instrument may fall towards 0.7000 and then return to 0.7200.
USD RUB, “US Dollar vs Russian Ruble”
Following the oil prices decline, Ruble has broken its current high and probably completed this ascending wave. We think, today, the price may consolidate and form a reversal structure to start another decline with the target at 63.55. The market is expected to form another descending wave with the target at 60.00.
XAU USD, “Gold vs US Dollar”
Gold is moving inside the downtrend. We think, today, the price may return to 1100 and then continue moving downwards. The next target is at 1060. The main downside target is 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
AUD/USD remains under pressure from RBA rate decision
AUD/USD spiked lower by more than 20 pips following the RBA rate announcement to test the key psychological support at 0.6600. Losing this key level could see the currency pair trek lower towards the 100-hour EMA support near 0.6580.
EUR/USD edges lower to near 1.0750 due to the upward correction in the US Dollar
EUR/USD snaps its four-day winning streak, trading around 1.0760 during the Asian hours on Tuesday. However, the Euro found support from higher-than-expected Eurozone Purchasing Managers Index data released on Monday.
Gold price extends its upside as markets react to downbeat jobs data
Gold price extends its recovery on Tuesday. The uptick of the yellow metal is bolstered by the weaker US dollar after recent US Nonfarm Payrolls (NFP) data boosted bets that the Federal Reserve would cut interest rates later this year.
Bitcoin miner Marathon Digital stock gains ground after listing by S&P Global
Following Bitcoin miner Marathon Digital's inclusion as an upcoming member of the S&P SmallCap 600, the company's stock received an 18% boost, accompanied by an $800 million rise in market cap.
The impact of economic indicators and global dynamics on the US Dollar
Recent labor market data suggest a cooling economy. The disappointing job creation and rising unemployment hint at a slackening demand for labor, which, coupled with subdued wage growth, could signal a slower economic trajectory.