EUR/USD, “Euro vs US Dollar”
EUR/USD is rising towards the upper boundary of a Wolfe Wave descending pattern. The pair is going inside the Ichimoku Cloud, which suggests a sideways movement. A test of the Cloud’s upper boundary at 1.0715 is expected, followed by a decline to 1.0580. A rebound from the upper boundary of the descending channel will signal the price decline. The scenario can be cancelled by a breakout of the upper boundary of the Cloud, with the price securing above 1.0765, indicating a further rise to 1.0955. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the ascending channel, with the price gaining a foothold below 1.0660.
XAU/USD, "Gold vs US Dollar"
Gold has established itself above the Tenkan-Sen line. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the upper boundary of the Cloud at 2345 is expected, followed by a decline to 2265. An additional signal confirming the decline will be a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud, with the price securing above 2355, which will signal a further rise to 2405. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the bullish channel, with the price finding a foothold below 2315.
NZD/USD, “New Zealand Dollar vs US Dollar”
NZD/USD is correcting within a Wedge reversal pattern. The pair is going inside the Ichimoku Cloud, which suggests a sideways movement. A test of the Cloud’s upper boundary at 0.5960 is expected, followed by a decline to 0.5825. An additional signal confirming the decline could be a rebound from the upper boundary of the Wedge pattern. The scenario can be cancelled by a breakout of the upper boundary of the Cloud, with the price securing above 0.5990, indicating a further rise to 0.6090. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the Wedge reversal pattern, with the price gaining a foothold below 0.5905.
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 stays in positive territory above 1.0850 after US data
EUR/USD clings to modest daily gains above 1.0850 in the second half of the day on Friday. The improving risk mood makes it difficult for the US Dollar to hold its ground after PCE inflation data, helping the pair edge higher ahead of the weekend.
GBP/USD stabilizes above 1.2850 as risk mood improves
GBP/USD maintains recovery momentum and fluctuates above 1.2850 in the American session on Friday. The positive shift seen in risk mood doesn't allow the US Dollar to preserve its strength and supports the pair.
Gold rebounds above $2,380 as US yields stretch lower
Following a quiet European session, Gold gathers bullish momentum and trades decisively higher on the day above $2,380. The benchmark 10-year US Treasury bond yield loses more than 1% on the day after US PCE inflation data, fuelling XAU/USD's upside.
Avalanche price sets for a rally following retest of key support level
Avalanche (AVAX) price bounced off the $26.34 support level to trade at $27.95 as of Friday. Growing on-chain development activity indicates a potential bullish move in the coming days.
The election, Trump's Dollar policy, and the future of the Yen
After an assassination attempt on former President Donald Trump and drop out of President Biden, Kamala Harris has been endorsed as the Democratic candidate to compete against Trump in the upcoming November US presidential election.