The euro dollar pair is under pressure to decline. In practice, the market once again formed around 1.1000 structure of the continuation pattern. Today, with the breakdown of lows we consider the continued decline to the refinement of the level of 1.0900. As an alternative, we do not rule out the price breaks the maximum correction to the level of 1.1120.
The pound against US dollar currency pair has fulfilled the local target of the reduction structure and is still trading under pressure with a continuation of the trend to the refinement of the level of 1.3850. Today we consider the possibility of overlapping levels of 1.3910. Next, we assume the test of the 1.4000 level from below. Then - a new decline to the refinement of the level of 1.3850.
The USD CHF currency pair rebounded from the level of 0.9900 and continues to trade with growth. Today we consider the continuation of the upward trend to the refinement of the level of 1.0127.
The USD JPY currency pair has broken down 112.20. The potential to decline to the level of 111.00 has opened. Today we consider the possibility of testing the 112.20 level from below. In case of another update of the minimum, we will consider a continuation of the trend down to the testing of 108.05.
Australian dollar against the US dollar performed the first impulse to decline. Today – a correction to the level of 0.7213, the test from below. Next, we consider the continuation of the trend down to the testing of the next target at 0.7085.
With regards to the Russian ruble today with the opening of the markets we are expecting a continuation in the development of the consolidation range. Next in line - a decrease to the level of 72.
Gold is trading on the rebound from the top of the consolidation range. Today we consider the decline to the level of 1196.45. Next, we consider the possibility of a return to the level of 1218.00. Practically we are considering the development of the consolidation range in the "Triangle". The figure is of technical reversal. Furthermore - continued trend down.
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 weakens further as US Treasury yields boost US Dollar
The Australian Dollar extended its losses against the US Dollar for the second straight day, as higher US Treasury bond yields underpinned the Greenback. On Wednesday, the AUD/USD lost 0.26% as market participants turned risk-averse. As the Asian session begins, the pair trades around 0.6577.
EUR/USD stuck near midrange ahead of thin Thursday session
EUR/USD is reverting to the near-term mean, stuck near 1.0750 and stuck firmly in the week’s opening trading range. Markets will be on the lookout for speeches from ECB policymakers, but officials are broadly expected to avoid rocking the boat amidst holiday-constrained market flows.
Gold price drops amid higher US yields awaiting next week's US inflation
Gold remained at familiar levels on Wednesday, trading near $2,312 amid rising US Treasury yields and a strong US dollar. Traders await unemployment claims on Thursday, followed by Friday's University of Michigan Consumer Sentiment survey.
Bitcoin price drops, but holders with 100 to 1000 BTC continue to buy up
Bitcoin price action continues to show a lack of participation from new traders, steadily grinding south in the one-day timeframe, while the one-week period shows a horizontal chop. Meanwhile, data shows that some holder segments continue to buy up.
Navigating the future of precious metals
In a recent episode of the Vancouver Resource Investment Conference podcast, hosted by Jesse Day, guests Stefan Gleason and JP Cortez shared their expert analysis on the dynamics of the gold and silver markets and discussed legislative efforts to promote these metals as sound money in the United States.