GBP/USD, “Great Britain Pound vs US Dollar”
GBP/USD has rebounded from the support level. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the upper boundary of the Cloud at 1.2615 is expected, followed by a decline to 1.2365. 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 finding a foothold above 1.2675, which will mean a further growth to 1.2765. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the bullish channel with the price finding a foothold under 1.2505.
Brent
Brent has found a foothold above the Tenkan-Sen line. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Tenkan-Sen line at 77.25 is expected, followed by a decline to 69.85. 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 finding a foothold above 82.05, which will mean further growth to 85.65.
NZD/USD, “New Zealand Dollar vs US Dollar”
NZD/USD is testing the resistance area. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 0.6130 is expected, followed by a rise to 0.6305. An additional signal confirming the rise will be a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price finding a foothold under 0.6075, which will mean a further decline to 0.5985. Meanwhile, the growth could be confirmed by a breakout of the upper boundary of the bearish channel with the price finding a foothold above 0.6205.
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 consolidates gains below 1.1100 ahead of US data
EUR/USD trades in a narrow channel slightly below 1.1100 in the second half of the day on Friday, following the sharp rebound seen on Thursday. The US economic docket will feature UoM Consumer Sentiment data for September.
GBP/USD holds pulls away from daily highs, holds above 1.3100
GBP/USD struggles to build on Thursday's gains but holds comfortably above 1.3100 in the early American session on Friday. Growing expectations for a large Fed rate cut at next week's meeting doesn't allow the USD to gather strength ahead of the weekend.
Gold climbs to new record-high above $2,570 as media revives debate over Fed rate cuts
Gold trades slightly below $2,570 after setting a new record-high of $2,573 earlier in the day. The benchmark 10-year US Treasury bond yield stays in negative territory below 3.7% as markets reassess the odds of a large Fed rate cut, helping XAU/USD hold its ground.
Bitcoin and Ethereum traders could watch this signal for the next bull run
Crypto mining is the process by which new Bitcoin and Ethereum enter circulation. Data from crypto intelligence tracker shows that wallets of Bitcoin and Ethereum miners noted a decline in their holdings of the assets in the first half of the year.
European Central Bank widely expected to cut interest rates in September
The European Central Bank is expected to cut key rates by 25 bps at the September policy meeting. ECB President Christine Lagarde’s presser and updated economic forecasts will be closely scrutinized for fresh policy cues.
Moneta Markets review 2024: All you need to know
VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.