Analysis for October 26th, 2016
GBPUSD, "Great Britain Pound vs US Dollar"
GBPUSD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen intersected and formed "Dead Cross" (1). Ichimoku Cloud is heading down (2), Chinkou Lagging Span is below the chart, and the price is inside Kumo. Short-term forecast: we can expect resistance from D Kijun-Sen – Senkou Span A, and decline of the price below the cloud.
GBPUSD, Time Frame H1. Indicator signals: Tenkan-Sen and Kijun-Sen intersected inside Kumo Cloud and formed "Golden Cross" (1); Kijun-Sen and Senkou Span A are directed downwards. Ichimoku Cloud is going up (2); the price is near Kumo's downside border. Short-term forecast: we can expect support from Tenkan-Sen, and growth of the price above the cloud.
XAUUSD, "Gold vs US Dollar"
XAUUSD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are intersecting above Kumo Cloud again and forming "Golden Cross" (1); but the lines are getting closer to each other. D Tenkan-Sen and D Kijun-Sen are still influenced by D "Dead Cross" (3). Ichimoku Cloud is moving upwards (2), Chinkou Lagging Span is above the chart, and the price is moving above Kumo towards D Kijun-Sen. Short‑term forecast: we can expect support from Tenkan-Sen – Kijun-Sen, and growth of the price.
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 pressures as Fed officials hold firm on rate policy
The Australian Dollar is on the defensive against the US Dollar, as Friday’s Asian session commences. On Thursday, the antipodean clocked losses of 0.21% against its counterpart, driven by Fed officials emphasizing they’re in no rush to ease policy. The AUD/USD trades around 0.6419.
EUR/USD extends its downside below 1.0650 on hawkish Fed remarks
The EUR/USD extends its downside around 1.0640 after retreating from weekly peaks of 1.0690 on Friday during the early Asian session. The hawkish comments from Federal Reserve officials provide some support to the US Dollar.
Gold price edges higher on risk-off mood hawkish Fed signals
Gold prices advanced late in the North American session on Thursday, underpinned by heightened geopolitical risks involving Iran and Israel. Federal Reserve officials delivered hawkish messages, triggering a jump in US Treasury yields, which boosted the Greenback.
Bitcoin Price Outlook: All eyes on BTC as CNN calls halving the ‘World Cup for Bitcoin’
Bitcoin price remains the focus of traders and investors ahead of the halving, which is an important event expected to kick off the next bull market. Amid conflicting forecasts from analysts, an international media site has lauded the halving and what it means for the industry.
Is the Biden administration trying to destroy the Dollar?
Confidence in Western financial markets has already been shaken enough by the 20% devaluation of the dollar over the last few years. But now the European Commission wants to hand Ukraine $300 billion seized from Russia.