AUD/USD, “Australian Dollar vs US Dollar”
On H4, the quotes are above the 200-day Moving Average, revealing the prevalence of an uptrend. The RSI is testing the support line. In this situation, the price is expected to rise above 7/8 (0.6774) and later reach the resistance level of 8/8 (0.6835). The scenario can be cancelled by a downward breakout of the support at 6/8 (0.6713). In this case, the pair might correct to 5/8 (0.6652).
On M15, the upper line of the VoltyChannel is broken. This indicates the prevalence of an uptrend and increases the probability of further price growth.
NZD/USD, “New Zealand Dollar vs US Dollar”
On H4, the quotes are on the 200-day Moving Average, indicating a possible reversal of the downtrend. Meanwhile, the RSI has formed a divergence that signals a price decline. As a result, we should expect a test of 4/8 (0.6103), a breakout, and a decline to the support at 3/8 (0.6042). The scenario can be cancelled by rising above the resistance level of 5/8 (0.6164), which might lead to growth of the pair to 6/8 (0.6225).
On M15, further falling on H4 could be additionally supported by a breakout of the lower VoltyChannel line.
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 holds near 1.0500 ahead of US PMI data
EUR/USD fluctuates in a narrow channel at around 1.0500 on Monday after EU PMI data came in better than expected. ECB President Lagarde reiterated that they will continue to cut rates if data confirm disinflation is on track. Market focus shifts to US PMI data.
Gold clings to mild gains above $2,650 as markets gear up for Fed
Gold opens the week on a moderately positive tone and trades above $2,650, favored by a mild US Dollar (USD) reversal amid lower US Treasury yields. The precious metal, however, is still close to recent lows following a 2.5% sell-off late last week.
Bitcoin rises to new all-time of $106,600, then corrects as markets focus on Fed
Bitcoin price retreats on Monday after reaching a new all-time high (ATH) of $106,648 in the early Asian session. The main factor impacting BTC price this week is likely to be the decision of the US Fed on interest rates on Wednesday.
Five fundamentals for the week: Fed dominates the last full and busy trading week of the year Premium
Christmas is coming – but there's a high likelihood of wild price action before the holiday season begins. Central banks take center stage, and there is enough data to keep traders busy outside these critical decisions.
Five fundamentals for the week: Fed dominates the last full and busy trading week of the year Premium
Christmas is coming – but there's a high likelihood of wild price action before the holiday season begins. Central banks take center stage, and there is enough data to keep traders busy outside these critical decisions.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.