Analysis for November 5th, 2015
EURUSD, “Euro vs US Dollar”
Eurodollar continues moving downwards. If the price is able to stay below the 1/8 level, it may continue falling to reach the 0/8 one. If this level is broken as well, the market may fall deeper, towards the -2/8 one.
At the H1 chart, Eurodollar is moving at the bottom. If the pair rebounds from Super Trends, the market may continue moving downwards. After the price breaks the -2/8 level, the lines at the chart will be redrawn.
USDCAD, “US Dollar vs Canadian Dollar”
Canadian Dollar has rebounded from the daily Super Trend twice and right now is moving in the middle of the chart. If the price is able to break the 5/8 level and stay above it, the pair will continue moving upwards to reach the 7/8 one.
As we can see at the H1 chart, Super Trends have formed “bullish cross”. It’s highly likely that the market may reach a new local high on Thursday. I opened another buy order during the correction.
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: The hunt for the 0.7000 hurdle
AUD/USD quickly left behind Wednesday’s strong pullback and rose markedly past the 0.6900 barrier on Thursday, boosted by news of fresh stimulus in China as well as renewed weakness in the US Dollar.
EUR/USD refocuses its attention to 1.1200 and above
Rising appetite for the risk-associated assets, the offered stance in the Greenback and Chinese stimulus all contributed to the resurgence of the upside momentum in EUR/USD, which managed to retest the 1.1190 zone on Thursday.
Gold holding at higher ground at around $2,670
Gold breaks to new high of $2,673 on Thursday. Falling interest rates globally, intensifying geopolitical conflicts and heightened Fed easing bets are the main factors.
Ethena Labs launches new UStb stablecoin backed by BlackRock's BUIDL token
Ethena Labs announced on Thursday that it has released a new stablecoin product, UStb. The new stablecoin will be fully collateralized by BlackRock's USD Institutional Digital Liquidity Fund and function similarly to a traditional stablecoin.
RBA widely expected to keep key interest rate unchanged amid persisting price pressures
The Reserve Bank of Australia is likely to continue bucking the trend adopted by major central banks of the dovish policy pivot, opting to maintain the policy for the seventh consecutive meeting on Tuesday.
Five best Forex brokers in 2024
VERIFIED Choosing the best Forex broker in 2024 requires careful consideration of certain essential factors. With the wide array of options available, it is crucial to find a broker that aligns with your trading style, experience level, and financial goals.