Euro Growing a Bit

The data published last Friday by the USD provided good support o the “greenback”. The preliminary report on the UoM Consumer Sentiment showed 78.9 points in September after being 74.1 points in the previous month. The indicator was expected to improve but only up to 75.0 points.

A new week September won’t offer many important numbers from the USA but the ones that are to be published will be connected with real estate and may provide insight into the state of things with both manufacturers and consumers.

However, the lion’s share of investors’ attention will be focused on almost daily speeches to be delivered by the US Federal Reserve Chairman Jerome Powell, who may talk about assessments of the current state of the American economy.

In the H4 chart, EUR/USD is consolidating around 1.1850. If later the price breaks this range to the upside, the market may resume growing to reach 1.1960; if to the downside – start a new decline to break 1.1800 and then continue trading inside the downtrend with the target at 1.1720.

From the technical point of view, this scenario is confirmed by MACD Oscillator: after breaking 0 to the downside, its signal line is testing this level from below. If the level is broken to the upside, it may boost the ascending tendency on the price chart. However, if the line rebounds from 0 and enters the histogram area, the asset will continue trading downwards.

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Автоматически созданное описание

As we can see in the H1 chart, after completing the ascending wave towards the upside border of the range at 1.1866, EUR/USD is expected to rebound from this level and form a new descending structure towards 1.1835. After that, the instrument may resume trading upwards to reach 1.1875. If later the price breaks this level to the upside, the asset may continue growing towards 1.1890.

However, if the instrument breaks 1.1820 to the downside, it may resume trading inside the downtrend with the target at 1.1800. From the technical point of view, this scenario is confirmed by Stochastic Oscillator: its signal line is moving towards 50. If this level is broken to the downside, it may continue falling to reach 20. Still, if the line rebounds from 50, it may imply further growth towards 80.

Изображение выглядит как текст, карта

Автоматически созданное описание

Author: Dmitriy Gurkovskiy, Chief Analyst at RoboForex


Disclaimer

Any forecasts contained herein are based on the author’s particular opinion. This analysis may not be treated as trading advice. RoboForex bears no responsibility for trading results based on trading recommendations and reviews contained herein.

 

Euro Quietly Growing

The Jackson Hole Economic Symposium is ahead and this year the event, which is quite “bombastic” and dramatic for financial markets, will be held online. The highlight of the symposium is a speech by the US Federal Reserve Chairman Jerome Powell on Friday, who is expected to talk about the regulator’s monetary policy outlook. What exactly he is going to say remains an open question but his speech is expected to be very delicate in statements and careful in estimations.

The diplomatic skirmish between the USA and China continues but it’s not the thing that worries market players a lot right now, although it’s a really negative factor which should be kept in sight.

Stay tuned to the RoboForex Blog for exclusive financial forecasts, professional expert analysis, how-to articles and more.

In the H4 chart, EUR/USD is growing towards 1.1814 and may later form a new descending structure to reach 1.1743. This movement may be considered as the first correctional wave. After that, the instrument may start a new growth towards 1.1811 and then resume trading inside the downtrend with the target at 1.1644 or even 1.1500. From the technical point of view, this scenario is confirmed by MACD Oscillator: after breaking 0 to the downside, its signal line is still moving inside the histogram area, thus indicating a further downtrend.

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Автоматически созданное описание

As we can see in the H1 chart, after completing the ascending structure at 1.1815, which may be considered as a correction of last Friday’s decline, EUR/USD is expected to form a new descending structure to reach 1.1743, which is a part of the fifth structure of the descending wave.

After finishing this wave, the instrument may start a new correction towards 1.1811. From the technical point of view, this scenario is confirmed by Stochastic Oscillator: its signal line is moving above 80 and such a movement implies the final stage of the correction. The indicator is expected to fall and break 50, which may result in a boost of the decline in the price chart.

Изображение выглядит как текст, карта

Автоматически созданное описание

Author: Dmitriy Gurkovskiy, Chief Analyst at RoboForex


Disclaimer

Any forecasts contained herein are based on the author’s particular opinion. This analysis may not be treated as trading advice. RoboForex bears no responsibility for trading results based on trading recommendations and reviews contained herein.

Oil Remains Stable

A positive factor for the oil price was the information about the charter of ships by Chinese oil companies for transporting the oil in August and September. A preliminary volume to be transported from the USA to China is 20 million barrels. It may indicate that the Chinese economy is getting back to life and needs energy resources. For the oil price, it may become a long-term positive factor.

At the same time, a continuous news flow about a possibility of the second wave of COVID-19 pandemic prevents the oil from forming a stable rising movement.

Stay tuned to the RoboForex Blog for exclusive financial forecasts, professional expert analysis, how-to articles and more.

In the H4 chart, Brent is still consolidating around 45.20 and forming a Triangle pattern. Possibly, the asset may rebound from 45.20 to the upside and then form one more ascending wave to break 46.00. Later, the market may continue trading upwards with the target at 47.00 or even 49.00. From the technical point of view, this scenario is confirmed by MACD Oscillator: its signal line is moving above 0. By entering the histogram area, the line may boost the rising impulse on the price chart.

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As we can see in the H1 chart, Brent is consolidating around 45.20. Today, the asset may grow to reach 45.60 and then resume falling to return to 45.20. After that, the instrument may start another growth to break 45.60 and then continue trading upwards with the target at 46.00. From the technical point of view, this idea is confirmed by Stochastic Oscillator: its signal line is moving to rebound from 50 to the upside. Later, the line is expected to grow to reach 80 and then resume falling towards 20.

Изображение выглядит как текст, карта Автоматически созданное описание

For a look at all of today’s economic events, check out our economic calendar.

Author: Dmitriy Gurkovskiy, Chief Analyst at RoboForex


Disclaimer

Any forecasts contained herein are based on the author’s particular opinion. This analysis may not be treated as trading advice. RoboForex bears no responsibility for trading results based on trading recommendations and reviews contained herein.

USD Managed to Recover

The statistics on the US employment published last Friday helped the USD to recover a little bit and this positive factor is still working for the “greenback”. For example, the Unemployment Rate dropped to 10.2% in July after being 11.1% in June and against the expected reading of 10.5%. The Non-Farm Employment Change showed 1.763M against market expectations of 1.53M.

The Average Hourly Earnings in the USA added 0.2% m/m in July, which is much better than the expected reading of -0.5% m/m.

It goes without saying that the labor market is still trying to rebound after major stress but it’s already clearly seen that the creation of new jobs will require as much as effort as it takes.

Stay tuned to the RoboForex Blog for exclusive financial forecasts, professional expert analysis, how-to articles and more.

In the H4 chart, EUR/USD is correcting downwards to reach 1.1740 and may later form one more ascending wave with the target at 1.1940. After that, the instrument may start a new decline to 1.1700. From the technical point of view, this scenario is confirmed by MACD Oscillator: its signal line is moving downwards outside the histogram area, thus indicating a correction on the price chart.

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Автоматически созданное описание

As we can see in the H1 chart, after forming a consolidation range at 1.1828, which may be considered as a downside continuation pattern and a correctional wave, and breaking it to the downside, EUR/USD is expected to resume trading upwards to return to 1.1828. After that, the instrument may continue the correction with the target at 1.1740. From the technical point of view, this scenario is confirmed by Stochastic Oscillator: after rebounding from 80, its signal line is moving downwards. In the future, the indicator is expected to reach 50 and then may return to 80.

Изображение выглядит как текст, карта

Автоматически созданное описание

Dmitriy Gurkovskiy, Chief Analyst at RoboForex


Disclaimer

Any forecasts contained herein are based on the author’s particular opinion. This analysis may not be treated as trading advice. RoboForex bears no responsibility for trading results based on trading recommendations and reviews contained herein.

Oil Fixed Between $43-44

A new stage of the OPEC+ agreement is coming into effect. Starting from August 1st, the daily reduction of oil production is 7.7 million barrels, which is lower than the previous value, 9.7 barrels. This restriction is supposed to be valid for countries members of OPEC+ until the end of the year.

Market players are worried by the possibility of oversupply. It may well be that a stable price for oil might sooner or later boost the USA to increase oil extraction. This is exactly what is putting pressure on the oil right now.

Another thing that pushes the oil price is the coronavirus: the number of new cases is going up, which means that all pandemic-related risks are not going away anywhere.

In the H4 chart, Brent is still correcting towards 42.80. After reaching this level, the asset may form one more ascending wave to break 44.04 and then continue trading upwards with the short-term target at 45.33. Later, the market may correct towards 44.50 and then start another growth to reach 46.46. From the technical point of view, this scenario is confirmed by MACD Oscillator: its signal line is moving below 0 in the histogram area. After the line leaves the area and breaks 0 to the upside, the correction may be over.

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As we can see in the H1 chart, Brent is consolidating around 43.30; it has already broken this level to the downside and may continue falling to reach the correctional target at 42.80. After that, the instrument may start a new growth to break 43.30 and then continue trading upwards to reach 44.04. And that’s just a half of another ascending wave.

From the technical point of view, this idea is confirmed by Stochastic Oscillator: its signal line is moving to rebound from 50 to the downside. Later, the line is expected to fall to reach 20 and rebound from it. After that, the correction may be over. If later the line breaks 50, the price chart may boost its growth.

Изображение выглядит как текст, карта Автоматически созданное описание

For a look at all of today’s economic events, check out our economic calendar.

Author: Dmitriy Gurkovskiy, Chief Analyst at RoboForex


Disclaimer

Any forecasts contained herein are based on the author’s particular opinion. This analysis may not be treated as trading advice. RoboForex bears no responsibility for trading results based on trading recommendations and reviews contained herein.

Gold Updates Its Highs

There were two key triggers for Gold to go up. The first one lies in the investors’ high demand for “safe haven” assets: as long as the USA is looking for a new reason to fight with China, market players are keeping in sight a possibility of escalation. The second trigger is a quick decline in the USD rate. Gold is always inversely correlated with the “greenback” and one can clearly see this happening right now.

Capital markets’ physical demand for Gold is minimum, while the real sector’s demand is even lower. Industries are slowly getting back to their usual routine but their demand for the precious metal isn’t increasing.

Market players have serious doubts that the global economy will recover by a V-trajectory. This is another factor that supports Gold.

Stay tuned to the RoboForex Blog for exclusive financial forecasts, professional expert analysis, how-to articles and more.

As we can see in the H4 chart, XAU/USD is trading upwards; it has already broken 1900.00 and may later continue growing with the target at 2000.00. Possibly, today the pair may reach 1955.90 and then start a new correction towards 1900.00. Later, the market may form one more ascending structure within the uptrend with the above-mentioned target. From the technical point of view, this scenario is confirmed by MACD Oscillator: its signal line is moving inside the histogram area, thus indicating further uptrend on the price chart towards the next target level.

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In the H1 chart, the uptrend continues. By now, XAU/USD has broken 1920.20 and may continue trading upwards to reach 1950.50. After that, the instrument may form a new descending structure towards 1940.40 and then resume growing with the short-term target at 1962.60. From the technical point of view, the Stochastic Oscillator is moving downwards to reach 50. The indicator is expected to rebound from this level and start a new growth towards 80, thus confirming further uptrend on the price chart.

Изображение выглядит как карта, текст

Автоматически созданное описание

By Dmitriy Gurkovskiy, Chief Analyst at RoboForex


Disclaimer

Any predictions contained herein are based on the author’s particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.

Euro Is Going for The Best

The EU summit, which was originally scheduled for two days, Saturday and Sunday, will continue on Monday as well. The European leaders couldn’t agree on the parameters of the stability fund, which is strongly required by many countries that suffered from the coronavirus pandemic. Apart from that, there are nuances in a multi-year financial plan, which should be a basis for the budgets of some particular European countries and the EU itself for 2021-2027.

There are no doubts that the alliance needs tools and mechanisms to support its economy. The question is at whose expense the fund is going to accumulate money, who will control expenditures and choose where to spend money first.

Even with all things considered, market players are looking pretty confident that the outcome will be positive. This is the reason why the demand for the Euro isn’t decreasing.

Stay tuned to the RoboForex Blog for exclusive financial forecasts, professional expert analysis, how-to articles and more.

In the H4 chart, after breaking 1.1430 to the upside, EUR/USD is expected to continue growing towards 1.1480. After that, the instrument may correct to reach 1.1440 or extend the correction down to 1.1340. Later, the market may form one more ascending structure with the target at 1.1550. From the technical point of view, this scenario is confirmed by MACD Oscillator: its signal line is moving above 0 inside the histogram area, thus indicating a further uptrend on the price chart.

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As we can see in the H1 chart, after forming a consolidation range around 1.1430 and breaking it to the upside, EUR/USD is expected to continue growing towards 1.1488 with no correction. This movement should be considered as an alternative scenario because the price may start plummeting to form such correction with the target at 1.1340 at any moment. From the technical point of view, this scenario is confirmed by Stochastic Oscillator: its signal line is moving above 80. If the line breaks 80 and starts plunging towards 20, it will confirm a sharp decline on the price chart.

Изображение выглядит как карта, текст

Автоматически созданное описание

By Dmitriy Gurkovskiy, Chief Analyst at RoboForex


Disclaimer

Any predictions contained herein are based on the author’s particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.

Forex Technical Analysis & Forecast for July 20, 2020

EURUSD, “Euro vs US Dollar”

EURUSD is moving not far from the upside border of a wide consolidation range. Possibly, today the pair may update 1.1455 and then fall towards the downside border at 1.1350. After that, the instrument may grow towards 1.1395. If later the price breaks this range to the upside, the market may resume trading upwards to reach 1.1550; if to the downside – start a new decline with the target at 1.1250.

EURUSD

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is still consolidating around 1.2550. Today, the pair may trade downwards to reach 1.2477 and then resume growing to test 1.2550 from below. Later, the market may start a new decline with the target at 1.2450.

GBPUSD

USDRUB, “US Dollar vs Russian Ruble”

After breaking 71.31 to the upside, USDRUB is expected to continue the correction towards 72.20. Possibly, today the pair may reach this level and then fall to break 71.28. Later, the market may continue trading downwards with the target at 70.00.

USDRUB

USDJPY, “US Dollar vs Japanese Yen”

After finishing the ascending wave and reaching the target at 107.50, USDJPY is expected to continue growing towards 107.60 and then form a new descending structure to break 107.06. After that, the instrument may continue trading inside the downtrend with the target at 106.60.

USDJPY

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is still consolidating around 0.9444. Possibly, the pair may fall to reach 0.9370 and then grow to break 0.9444. Later, the market may continue trading upwards with the target at 0.9474.

USDCHF

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is still consolidating around 0.6982. Today, the pair may fall towards 0.6944 and then return to test 0.6982 from below. Later, the market may resume trading downwards to break 0.6944 and then continue falling with the target at 0.6900.

AUDUSD

BRENT

Brent is still correcting towards 42.58. The main scenario suggests that the price may complete this correction and grow with the target at 43.23. After that, the instrument may start a new decline towards 42.95 and then form one more ascending structure to break 43.50. Later, the market may continue trading upwards to reach 44.44.

BRENT

XAUUSD, “Gold vs US Dollar”

Gold is still consolidating around 1803.50. Possibly, today the pair may test this level from above and then form one more ascending structure towards 1812.97. Later, the market may start another decline to return to 1803.50 and then resume trading upwards with the target at 1819.22.

GOLD

BTCUSD, “Bitcoin vs US Dollar”

After finishing the ascending wave at 9212.00, BTCUSD is trading downwards to reach 9136.00. After that, the instrument may resume trading upwards to complete this wave at 9300.00. Later, the market may resume falling to break 9000.00 and then continue moving inside the downtrend with the target at 8700.00.

BITCOIN

S&P 500

The S&P 500 Index is consolidating above 3200.5. Possibly, the asset may break this level to the downside and continue the correction towards 3111.1. However, if the price grows and breaks 3235.5, the market may continue trading upwards to reach 3300.3 and then start a new decline with the target at 3111.1.

S&P 500

By Dmitriy Gurkovskiy, Chief Analyst at RoboForex


Disclaimer

Any predictions contained herein are based on the author’s particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.

Forex Technical Analysis & Forecast for July 16, 2020

EURUSD, “Euro vs US Dollar”

EURUSD is falling towards 1.1385 and may later correct to reach 1.1416. After that, the instrument may form a new descending structure with the first target at 1.1340.

EURUSD

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is trading downwards to reach 1.2539 and may later correct towards 1.2591. Later, the market may start a new decline with the target at 1.2454.

GBPUSD

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is falling to break 70.60. Possibly, today the pair may break this level and then continue trading downwards with the target at 69.96. Later, the market may form one more ascending structure to test 70.50 from below and then start a new decline with the target at 69.80.

USDRUB

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has completed the descending structure at 106.86; right now, it is consolidating around this level. Possibly, today the pair may expand the range up to 107.12 and then resume falling with the short-term target at 106.55.

USDJPY

USDCHF, “US Dollar vs Swiss Franc”

After finishing the ascending impulse at 0.9444, USDCHF is consolidating around this level; this entire movement is considered as an upside continuation pattern. If later the price breaks this range to the upside, the market may resume trading upwards with the short-term target at 0.9517.

USDCHF

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is falling towards 0.6981 and may later grow to reach 0.0.7009. Later, the market may resume trading downwards with the target at 0.6922.

AUDUSD

BRENT

Brent has broken 43.50 to the upside; right now, it is still consolidating around this level. Possibly, the pair may break the range and grow with the short-term target at 45.00, After that, the instrument may start a new correction to return to 43.50 and then form one more ascending structure to reach 45.55.

BRENT

XAUUSD, “Gold vs US Dollar”

Gold is still consolidating above 1804.00. Possibly, the pair may break the range to the upside and reach 1819.55. Later, the market may start another correction with the target at 1752.00.

GOLD

BTCUSD, “Bitcoin vs US Dollar”

After finishing the descending wave at 9150.00, BTCUSD is correcting towards 9210.00. After that, the instrument may resume falling to break 9000.00 and then continue trading inside the downtrend with the target at 8700.00.

BITCOIN

S&P 500

After completing the ascending wave at 3240.5, the S&P 500 Index is falling towards 3200.0. Later, the market may resume trading upwards to reach 3220.4 and then start a new decline to break 3184.5. After that, the instrument may continue falling with the target at 3111.1.

S&P 500

For a look at all of today’s economic events, check out our economic calendar.

By Dmitriy Gurkovskiy, Chief Analyst at RoboForex


Disclaimer

Any predictions contained herein are based on the author’s particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.

Forex Technical Analysis & Forecast for July 15, 2020

EURUSD, “Euro vs US Dollar”

EURUSD has extended the wave up to 1.1420. Possibly, today the pair may form a new descending structure towards 1.1373 and then start another growth to reach 1.1390, thus forming a new consolidating range between these two levels. If later the price breaks this range to the downside, the market may resume trading downwards with the target at 1.1330.

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GBPUSD, “Great Britain Pound vs US Dollar”

After finishing the descending wave at 1.2480, GBPUSD is correcting upwards with the target at 1.2588. Later, the market may start a new decline to reach the short-term target at 1.2454.

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USDRUB, “US Dollar vs Russian Ruble”

USDRUB is consolidating below 71.23. Today, the pair may fall to break 70.55 and then continue trading downwards with the target at 69.90. Later, the market may start a new correction to reach 71.27.

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USDJPY, “US Dollar vs Japanese Yen”

USDJPY is still consolidating around 107.20. Possibly, today the pair may form a new descending structure to return to 107.00 and then start another growth to reach 107.50. Later, the market may resume falling towards 106.94 or even deeper, 106.60.

Изображение выглядит как легкий, сидит, освещенный, темный Автоматически созданное описание

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is still consolidating around 0.9400. If later the price breaks this range to the upside at 0.9415, the market may resume trading upwards with the target at 0.9440 or even higher, 0.9550; if to the downside at 0.9388 – form a new descending structure with the target at 0.9366.

Изображение выглядит как легкий, компьютер, ноутбук, большой Автоматически созданное описание

AUDUSD, “Australian Dollar vs US Dollar”

After completing the ascending wave at 0.7017, AUDUSD is expected to fall towards 0.6967 and then grow to reach 0.6991, thus forming a new consolidating range between these two levels. If later the price breaks this range to the downside, the market may resume trading downwards with the target at 0.6924.

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BRENT

Brent is moving not far from the upside border of the range. Possibly, the pair may break 43.30 and then continue moving upwards with the target at 45.00. After that, the instrument may start a new decline to return to 43.30 and then form one more ascending structure to reach 45.55.

Изображение выглядит как сидит, легкий, темный, ноутбук Автоматически созданное описание

XAUUSD, “Gold vs US Dollar”

After completing the ascending structure at 1805.00, Gold is consolidating around this level. If later the price breaks this range to the downside, the market may resume trading downwards to reach 1791.33 or even 1777.17; if to the upside – form one more ascending structure with the target at 1819.55.

Изображение выглядит как экран, сидит, часы, легкий Автоматически созданное описание

BTCUSD, “Bitcoin vs US Dollar”

After finishing the correction at 9260.00 and testing it from below, BTCUSD is expected to fall to break 9160.00. After that, the instrument may resume trading inside the downtrend with the target at 9000.00 or even 8700.00.

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S&P 500

After the ascending structure towards 3185.0 and a gap up this morning, the S&P 500 Index is expected to reach 3240.4 and then fall to return to 3185.0, thus forming a new consolidating range between these two levels. If later the price breaks this range to the downside, the market may start a new correction with the target at 3111.1; if to the upside – form one more ascending structure towards 3300.3.

Изображение выглядит как экран, монитор, сидит, компьютер Автоматически созданное описание

For a look at all of today’s economic events, check out our economic calendar.

By Dmitriy Gurkovskiy, Chief Analyst at RoboForex


Disclaimer

Any predictions contained herein are based on the author’s particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.

ETH Is Spiritless

On D1, ETH/USD goes on correcting in an uptrend. The quotations keep trading at the lower border of the ascending channel, aiming at 61.8% Fibo. Another signal of the decline is given by the MACD: the histogram is at zero, while the signal lines have formed a Black Cross. Judging by all the factors, we may conclude that the pair will be declining to 61.8% Fibo, and in the case of a bounce, it will head for 265,00 USD. However, we should not exclude the idea that the price will break away 61.8% Fibo, aiming at 50.0%.

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Автоматически созданное описание

On H4, a correction of the uptrend is also continuing. The Stochastic values are in the overbought area; a Black Cross may be giving another signal of further correction. The aim of the decline is at 225.00 USD. However, a deeper correction to 218.00 USD is also possible. After testing the support, the pair may go on developing the uptrend.

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Автоматически созданное описание

The market still has a range of opinions about the future of the ETH and its real value. For example, in ConsenSys, they think that the ETH is underpriced. With time, they say, it may reach the price of the BTC. Since the beginning of the year, the situation around the ETH has improved significantly, which may be a serious base for such forecasts. For example, in January the ETH capitalization was 10 times lower than that of the BTC, while the volume of the leading cryptocurrency was two times higher. Currently, the situation is changing radically, and not in favor of the BTC.

A famous crypto trader Peter Brandt is sure of the stable perspectives of the ETH, and his confidence became even stronger after the ETH broke away an important resistance level against the BTC. And if the ETH takes a confident ascending course, a vast majority of cryptocurrencies will follow in tow.

The ETH has a fundamental foothold that has not realized its full potential yet. This is the Ethereum 2.0 network that market participants have been expecting for several months. The company has not yet voiced the date of a test launch, it is expected just “one of these days”. This summer, the launch remains possible, and if all the expectations are fulfilled (from passive income to the solution for the scalability problem), the ETH future will be bright.

By Dmitriy Gurkovskiy, Chief Analyst at RoboForex


Disclaimer

Any predictions contained herein are based on the author’s particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.

Oil Bulls Are Very Hesitant

However, market players can’t be sure in anything, neither the oil price surge amid the increasing demand, nor the lack of demand and, as a result, predictable oil sales.

The latest data from Baker Hughes showed that the number of oil rigs in the United States fell again and on July 10th, was equal to 181 units. And now just feel the difference – at the same period of time last year, the reading was 784 units. The total rig count in the country is 258 units.

Early in the week, financial markets are anticipated to be pretty quiet but getting more and more dynamic as the trading week unfolds. For example, market players will closely follow the US comments relating to a possible resumption of trade talks with China because any negative news here may quickly become a reason for oil investors to sell the “black gold”.

Stay tuned to the RoboForex Blog for exclusive financial forecasts, professional expert analysis, how-to articles and more.

In the H4 chart, after finishing the correction at 41.41, Brent is forming a new ascending impulse towards 43.50. After reaching this level, the instrument may start another correction. However, if the price breaks 43.50 to the upside, the pair may continue trading upwards with the short-term target at 45.55. From the technical point of view, this scenario is confirmed by MACD Oscillator: its signal line is moving close to 0. Later, the line is expected to rebound from 0 and resume moving upwards.

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Автоматически созданное описание

As we can see in the H1 chart, Brent is consolidating around 43.00. Today, the pair may fall to expand the range down to 42.42 and complete the correction. After that, the instrument may start a new growth to reach 43.50. From the technical point of view, this idea is confirmed by Stochastic Oscillator: its signal line has broken 80; right now, it is moving near 50 and may continue falling to reach 20, thus implying a possible decline towards 42.42 on the price chart. Later, when the indicator resumes growing towards 80, the price chart may resume trading upwards as well and reach 43.50.

Изображение выглядит как карта, текст

Автоматически созданное описание

For a look at all of today’s economic events, check out our economic calendar.

By Dmitriy Gurkovskiy, Chief Analyst at RoboForex


Disclaimer

Any predictions contained herein are based on the author’s particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.

Forex Technical Analysis & Forecast for July 13, 2020

EURUSD, “Euro vs US Dollar”

After completing the descending wave at 1.1255, EURUSD is moving upwards to reach 1.1338. Possibly, the pair may reach it and then form a new descending structure towards 1.1300. After that, the instrument may start another growth to reach 1.1380 and then resume trading downwards with the target at 1.1225.

EURUSD

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is moving upwards. Possibly, today the pair may reach 1.2694 and then fall towards 1.2640. Later, the market may form one more ascending structure to reach 1.2712 and then start a new decline with the target at 1.2585.

GBPUSD

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is still falling towards 70.20. Later, the market may form one more ascending structure to reach 70.90 and then start a new decline with the first target at 69.50.

USDRUB

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has finished the ascending wave at 106.93; right now, it is falling. Possibly, the pair may form a new descending structure towards 106.55 and then start another correction to the upside with the first target at 107.17.

USDJPY

USDCHF, “US Dollar vs Swiss Franc”

After finishing the descending wave at 0.9399, USDCHF is expected to continue falling towards 0.9377. After that, the instrument may grow to reach 0.9440 and then resume trading inside the downtrend to return to 0.9399.

USDCHF

AUDUSD, “Australian Dollar vs US Dollar”

After breaking 0.6960 to the upside, AUDUSD is still growing and may form one more ascending structure to reach 0.6994. Later, the market may start a new decline towards 0.6965 and then resume trading upwards with the target at 0.7000.

AUDUSD

BRENT

After finishing the correction at 41.41, Brent has completed another ascending impulse towards 43.50. Today, the asset may form a new descending structure towards 42.50 and then grow to break 43.50. After that, the instrument may continue moving upwards with the short-term target at 44.55.

BRENT

XAUUSD, “Gold vs US Dollar”

After falling and reaching 1794.00, Gold is correcting towards 1805.50. Later, the market may form a new descending structure with the first target at 1792.50 and then start another correction to return to 1805.50.

GOLD

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is consolidating around 9260.00. Today, the pair may fall towards 9060.00 and then form one more ascending structure to reach 9190.00. After that, the instrument may start a new decline with the short-term target at 8700.00.

BITCOIN

S&P 500

After breaking 3180.1 to the upside, the Index may continue growing towards 3240.5. After that, the instrument may correct to return to 3180.1 and then form one more ascending structure to reach 3300.5. Later, the market may resume trading downwards with the first target at 3100.6.

S&P 500

By Dmitriy Gurkovskiy, Chief Analyst at RoboForex


Disclaimer

Any predictions contained herein are based on the author’s particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.

Forex Technical Analysis & Forecast for July 9, 2020

EURUSD, “Euro vs US Dollar”

After breaking 1.1300 to the upside, EURUSD may continue growing towards 1.1380. Later, the market may correct to reach 1.1280 and then resume trading inside the uptrend with the target at 1.1410.

EURUSD

GBPUSD, “Great Britain Pound vs US Dollar”

After breaking 1.2525 and finishing another ascending wave at 1.2626, GBPUSD is consolidating around the latter level. Possibly, the pair may expand this range up to 1.2646. However, if the price breaks 1.2600 to thttps://www.fxempire.com/currencies/gbp-usdhe downside, the instrument may continue trading downwards with the first target at 1.2440.

GBPUSD

USDRUB, “US Dollar vs Russian Ruble”

After completing the descending impulse at 71.05, USDRUB is consolidating above this level. Possibly, thehttps://www.fxempire.com/currencies/usd-rub pair may correct towards 71.67 and then form a new descending structure to break 71.00. After that, the instrument may continue trading downwards with the short-term target at 70.10.

USDRUB

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has broken 107.40 to the downside; right now, it is still falling towards 106.99. Later, the market may correct to return to 107.40 and then form a new descending structure with the target at 106.60.

USDJPY

USDCHF, “US Dollar vs Swiss Franc”

After breaking 0.9383 to the downside, USDCHF is expected to continue falling towards 0.9333. After that, the instrument may form one more ascending structure to test 0.9383 from below and then resume trading inside the downtrend with the target at 0.9320.

USDCHF

AUDUSD, “Australian Dollar vs US Dollar”

After breaking 0.6971 to the upside, AUDUSD may choose an alternative scenario and form another ascending wave to reach 0.7017. Later, the market may start another decline towards 0.6972 and then resume growing with the target at 0.7023.

AUDUSD

BRENT

Brent is growing towards 43.90 and may later start a new correction to reach 42.50. After that, the instrument may resume moving upwards with the target at 45.02, at least.

BRENT

XAUUSD, “Gold vs US Dollar”

After reaching 1800.00 and forming an upside continuation pattern around this level, Gold has broken it upwards to extend the wave up to 1817.80; right now, it is falling to test 1801.90 from above and may later return to 1810.10, thus forming another consolidation range. If later the price breaks this range to the downside, the market may resume trading downwards with the target at 1780.00.

GOLD

BTCUSD, “Bitcoin vs US Dollar”

After breaking 9350.00 to the upside and expanding the range up to 9450.00, BTCUSD has returned to 9350.00 to test it from above. Later, the market may form one more ascending structure with the target at 9500.00 or even 9550.00.

BITCOIN

S&P 500

The Index is still consolidating around 3160.0. Possibly, today the air may expand the range up to 3200.5 and then down to 3120.5. If later the price breaks this range to the upside, the market may form one more ascending structure towards 3240.4; if to the downside – start a new correction with the target at 3050.5.

S&P 500

For a look at all of today’s economic events, check out our economic calendar.

By Dmitriy Gurkovskiy, Chief Analyst at RoboForex


Disclaimer

Any predictions contained herein are based on the author’s particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.

Forex Technical Analysis & Forecast for July 8, 2020

EUR/USD, “Euro vs US Dollar”

After breaking 1.1300 to the downside and starting a new correction towards 1.1250, EUR/USD has reached the short-term correctional target at 1.1260 and returned to test 1.1300 from below. Possibly, today the pair may form a new descending structure to reach 1.1250 and finish the correction. Later, the market may resume trading inside the uptrend with the target at 1.1380.

Изображение выглядит как внутренний, экран, сидит, телевидение Автоматически созданное описание

GBP/USD, “Great Britain Pound vs US Dollar”

GBP/USD has finished the ascending wave at 1.2580; right now, it is falling to reach 1.2515 and may later grow towards 1.2555, thus forming a new consolidation range. If later the price breaks this range to the downside, the market may resume trading downwards with the target at 1.2460.

Изображение выглядит как внутренний, экран, монитор, телевидение Автоматически созданное описание

USD/RUB, “US Dollar vs Russian Ruble”

After completing the ascending wave at 72.20, USD/RUB is about to finish the first descending impulse towards 71.20 and may later grow to reach 71.70, thus forming a new consolidation range between these levels. If later the price breaks this range to the downside, the market may form a new descending structure with the short-term target at 70.60.

Изображение выглядит как воздушный змей, сидит, большой, летит Автоматически созданное описание

USD/JPY, “US Dollar vs Japanese Yen”

USD/JPY is still consolidating around 107.50. Today, the pair may fall towards 107.40 and then start another growth to reach 107.80. Later, the market may form a new descending structure with the short-term target at 106.90.

Изображение выглядит как сидит, экран, компьютер, ноутбук Автоматически созданное описание

USD/CHF, “US Dollar vs Swiss Franc”

After finishing the ascending impulse at 0.95450 along with the correction towards 0.9415, USD/CHF is expected to form one more ascending structure to break 0.9460 and then continue trading upwards with the predicted short-term target at 0.9510. However, there might be an alternative scenario, which implies that the price may break 0.9410 to the downside and continue trading inside the downtrend to reach 0.9380.

Изображение выглядит как сидит, держит, мужчина, удаленный Автоматически созданное описание

AUD/USD, “Australian Dollar vs US Dollar”

AUD/USD is forming another descending wave to reach 0.6905, Later, the market may start another growth towards 0.6940 and then resume falling with the short-term target at 0.6860.

Изображение выглядит как внутренний, экран, телевидение, сидит Автоматически созданное описание

BRENT

Brent is still correcting towards 42.42 and may later form one more ascending structure to reach 43.80. After that, the instrument may start another decline to return to 42.42 and then resume moving upwards with the target at 45.02.

Изображение выглядит как ноутбук, сидит, компьютер, экран Автоматически созданное описание

XAU/USD, “Gold vs US Dollar”

After breaking 1786.00 to the upside, Gold is expected to test it from above and then continue growing with the short-term target at 1799.17. Later, the market may start a new correction to reach 1777.77 and then resume trading upwards with the target at 1800.00.

Изображение выглядит как сидит, темный, легкий, освещенный Автоматически созданное описание

BTC/USD, “Bitcoin vs US Dollar”

BTC/USD is falling towards 9126.00 and may later correct to reach 9250.00 thus forming a new consolidation range between these two levels. If later the price breaks this range to the upside, the market may form one more ascending structure with the target at 9550.00; if to the downside – resume trading inside the downtrend to reach 8700.00.

Изображение выглядит как внутренний, экран, сидит, ноутбук Автоматически созданное описание

S&P 500

After forming the consolidation range above 3160.0 and breaking it to the downside, the Index is expected to correct towards 3120.0. After that, the instrument may resume trading upwards with the target at 3240.3.

"Изображение

For a look at all of today’s economic events, check out our economic calendar.

By Dmitriy Gurkovskiy, Chief Analyst at RoboForex


Disclaimer

Any predictions contained herein are based on the author’s particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.

BTC Aims At Further Growth

On D1, the picture has not changed much since last week. The pair is trading at the upper border of the descending channel between 100.0% and 61.8% Fibo. The quotations keep declining inside the channel with a possible aim at 61.8% Fibo. The MACD histogram remains below zero, which also signals a further decline. The signal lines of the indicator have formed a Black Cross, which is yet another signal of going down.

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Автоматически созданное описание

On H4, the perspectives are quite different from those on D1. The pair keeps trading under 38.2% Fibo; the quotations remain under the horizontal resistance level. A decline currently looks more probable than growth; the aim is at 0.0% Fibo. The Stochastic is pushed towards the overbought area by a weak impulse, which means buyers are losing power. If a Black Cross forms in the overbought area, this will be yet another signal of further decline.

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There has been much news about the BTC rate these days, however, it has little influence on the behavior of the leading cryptocurrency. Nonetheless, there is one thing that may attract investors 0 if the story ever continues.

The Inner Mongolia Autonomous Region of China has encountered an increased risk of bubonic plague epidemics. The region has implemented the third level of epidemiological threat, which means hunt has been band, and the population must report any cases of suspected plague or fever.

Why should this be of interest to BTC investors? The thing is that many mining farms and production of mining equipment are situated right in China. The percentage of Chinese miners in the overall number of miners in the world remains high. So, if someone starts buying or selling the BTC massively here, the crypto market will definitely notice it.

The risk of a new virus from China potentially means the closing of mining farms. The good news is that such enterprises work rather autonomous, so there has to be a really serious reason for closing them, and there are no such reasons yet.

By Dmitriy Gurkovskiy, Chief Analyst at RoboForex


Disclaimer

Any predictions contained herein are based on the author’s particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.

Forex Technical Analysis & Forecast for July 7, 2020

EUR/USD, “Euro vs US Dollar”

After breaking 1.1300, EUR/USD is consolidating above it. If later the price breaks this range to the downside, the market may start a new correction towards 1.1250; if to the upside – resume trading inside the uptrend with the short-term target at 1.1380.

Изображение выглядит как экран, сидит, монитор, компьютер Автоматически созданное описание

GBP/USD, “Great Britain Pound vs US Dollar”

GBPUSD has broken 1.2490 to the upside; right now, it is still consolidating above it. If later the price breaks this range to the upside, the market may form one more ascending structure with the target at 1.2545; if to the downside – start another correction to reach 1.2435.

Изображение выглядит как монитор, экран, сидит, ноутбук Автоматически созданное описание

USD/RUB, “US Dollar vs Russian Ruble”

USDRUB is falling towards 71.11 and may later grow to reach 71.55, thus forming a new consolidation range between these levels. If later the price breaks this range to the downside, the market may form a new descending structure with the target at 69.69; if to the upside – resume trading inside the uptrend to reach 72.15.

Изображение выглядит как сидит, экран, держит Автоматически созданное описание

USD/JPY, “US Dollar vs Japanese Yen”

After breaking 107.41, USDJPY is consolidating below this level. Possibly, the pair may fall with the short-term target at 107.07 and then start another growth to return to 107.07 and test it from below. Later, the market may form a new descending structure with the target at 106.60.

Изображение выглядит как сидит, компьютер, часы, счетчик Автоматически созданное описание

USD/CHF, “US Dollar vs Swiss Franc”

After reaching its downside target at 0.9387, USDCHF is correcting towards 0.9425. After that, the instrument may fall to reach 0.9404, thus forming a new consolidation range. If later the price breaks this range to the upside, the market may form one more ascending structure with the target at 0.9470; if to the downside – resume trading inside the downtrend to reach 0.9330.

Изображение выглядит как сидит, стол, маленький, компьютер Автоматически созданное описание

AUD/USD, “Australian Dollar vs US Dollar”

AUDUSD has completed the ascending wave at 0.6990; right now, it is moving downwards to break 0.6949. Later, the market may continue falling with the target at 0.6900.

Изображение выглядит как экран, монитор, сидит, компьютер Автоматически созданное описание

BRENT

Brent is trading around 43.00. Today, the pair may expand the range up to 43.80 and then fall to reach 42.48. After that, the instrument may start another growth with the target at 45.05.

Изображение выглядит как внутренний, ноутбук, сидит, компьютер Автоматически созданное описание

XAU/USD, “Gold vs US Dollar”

After completing the ascending structure at 1786.90, Gold is expected to fall to test 1777.00 from above. After that, the instrument may grow to break 1787.77 and then continue trading upwards with the target at 1799.19 or even 1800.00. Later, the market may form a new descending wave to reach 1750.00.

Изображение выглядит как сидит, ноутбук, компьютер, экран Автоматически созданное описание

BTC/USD, “Bitcoin vs US Dollar”

After finishing the ascending impulse at 9126.00 and breaking it to the upside, BTCUSD has reached 9350.00; right now, it is falling towards 9245.00 and may later grow to reach 9300.00, thus forming a new consolidation range between these two levels. If later the price breaks this range to the upside, the market may form one more ascending structure with the target at 9550.00; if to the downside – resume trading inside the downtrend to reach 8700.00.

Изображение выглядит как экран, монитор, сидит, телевидение Автоматически созданное описание

S&P 500

After breaking 3166.5 to the upside, the Index is consolidating above it. Possibly, today the asset may reach 3200.5 and then correct towards 3120.0. After that, the instrument may resume trading upwards with the target at 3240.5.

Изображение выглядит как экран, сидит, монитор, компьютер Автоматически созданное описание

For a look at all of today’s economic events, check out our economic calendar.

By Dmitriy Gurkovskiy, Chief Analyst at RoboForex


Disclaimer

Any predictions contained herein are based on the author’s particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.

Gold Got Inside Flat

Here and now, market players are finally paying enough attention to the macroeconomic: expectations from China are quite positive as the country’s economy is anticipated to recover faster and stronger than other countries. This, in its turn, slows down investors’ interest in “safe haven” assets, including Gold.

However, it’s clearly seen that strategically investors are in no hurry to ditch their long-term positions in Gold, and it’s understandably why. The COVID-19 hasn’t been defeated yet, and that’s a risk. Global economies are still experiencing the crisis, and that’s a risk too. The American Dollar may remain under pressure for a long time, and that’s good for Gold.

All this taken together creates strategic support for the price of Gold, that’s why there are no rapid decisions to sell the instrument.

As we can see in the H4 chart, XAU/USD is trading to break 1778.86 to the upside and may later continue growing towards 1800.00. Later, the market may start a new correction to return to 1778.00 and then form one more ascending structure with the target at 1818.20. From the technical point of view, this scenario is confirmed by MACD Oscillator: its signal line is moving above 0, thus indicating further uptrend on the price chart.

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Автоматически созданное описание

In the H1 chart, XAU/USD is growing towards 1778.80. After reaching this level, the pair may form a new consolidation range and then break it to the upside. In this case, the pair may continue growing with the short-term target of another ascending wave at 1786.50. From the technical point of view, this scenario is confirmed by Stochastic Oscillator: its signal line is moving directly upwards, thus confirming further uptrend until the line breaks 80. After that, there might be a correction on the price chart, while the line is expected to fall towards 50.

By Dmitriy Gurkovskiy, Chief Analyst at RoboForex


Disclaimer

Any predictions contained herein are based on the author’s particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.

Forex Technical Analysis & Forecast for July 6, 2020

EUR/USD, “Euro vs US Dollar”

EUR/USD is moving upwards. Possibly, the pair may reach 1.1290 and then start a new correction towards 1.1262. After that, the instrument may form one more ascending structure with the target at 1.1305 and then start another correction to return to 1.1262.

Изображение выглядит как сидит, экран, цветной, играет

Автоматически созданное описание

GBP/USD, “Great Britain Pound vs US Dollar”

GBP/USD is trading upwards to break 1.2485 and may later continue growing towards 1.2512. Later, the market may correct to return to 1.2485 and then start another growth to reach 1.2533. After that, the instrument may resume falling inside the downtrend with the target at 1.2424.

Изображение выглядит как внутренний, экран, монитор, ноутбук

Автоматически созданное описание

USD/RUB, “US Dollar vs Russian Ruble”

After completing another ascending structure towards 71.66, which may be considered as the third wave to the upside, USD/RUB is expected to correct to reach 70.00, at least. After that, the instrument may resume growing with the target at 72.12.

Изображение выглядит как сидит, экран, ноутбук, держит

Автоматически созданное описание

USD/JPY, “US Dollar vs Japanese Yen”

USD/JPY is consolidating around 107.57. Today, the pair may grow to reach 107.81 and then start a new decline to return to 107.57. If later the price breaks this range to the upside the market may form one more ascending structure with the target at 108.01 or even 108.22.

Изображение выглядит как игра

Автоматически созданное описание

USD/CHF, “US Dollar vs Swiss Franc”

USD/CHF is moving close to the downside border of the range. Possibly, today the pair may form another ascending wave towards 0.9450. After that, the instrument may fall to break 0.9430 and then continue trading downwards with the target at 0.9387.

Изображение выглядит как внутренний, сидит, компьютер, ноутбук

Автоматически созданное описание

AUD/USD, “Australian Dollar vs US Dollar”

AUD/USD is moving upwards; it has already broken 0.6945 to the upside. Possibly, the pair may test this level from above and then form another ascending structure with the target at 0.6988 or even 0.7000.

Изображение выглядит как внутренний, ноутбук, экран, компьютер

Автоматически созданное описание

BRENT

Brent is trading upwards and may reach 43.80. Later, the market may correct to reach 42.44 and then start another growth towards 45.20 to complete this ascending wave. After that, the instrument may start another correction with the first target at 41.50.

XAU/USD, “Gold vs US Dollar”

Gold is still consolidating around 1777.00. Today, the pair may test 1768.15 from above and then resume trading upwards with the short-term target at 1786.00 or even 1798.00.

Изображение выглядит как экран, компьютер

Автоматически созданное описание

BTC/USD, “Bitcoin vs US Dollar”

After finishing the descending impulse at 8900.00, BTC/USD is still consolidating and growing towards 9100.00. If later the price breaks this range to the upside, the market may form one more ascending structure with the target at 9550.00; if to the downside at 0.9490 – resume trading inside the downtrend to reach 8700.00.

Изображение выглядит как сидит, экран, монитор, телевидение

Автоматически созданное описание

S&P 500

The Index is moving upwards. Possibly, the asset may reach 3200.4 and then correct towards 3119.0. After that, the instrument may resume trading upwards with the short-term target at 3240.3.

Изображение выглядит как экран, сидит, компьютер, монитор

Автоматически созданное описание

For a look at all of today’s economic events, check out our economic calendar.

By Dmitriy Gurkovskiy, Chief Analyst at RoboForex


Disclaimer

Any predictions contained herein are based on the author’s particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.

XRP Stuck In A Flat

On Friday, July 3rd, the XRP cryptocurrency remains within a flat, trading at 0.1762 USD. It has a chance to escape it but needs a bright driver.

On D1, XRP/USD does not demonstrate bright volatility, remaining in a flat. It is currently trading at 23.6% Fibo. If the cryptocurrency breaks it away, it may reach the next level of 0.0%. Growth may be now regarded as a minor correction inside a descending channel. The MACD histogram keeps trading below zero, giving an additional signal of further development of the downtrend. The aim of the decline is at 0,1455 USD.

On H4, the pair keeps moving sideways inside a descending channel. It is now trading in a range between 23.6% and 0.0% Fibo. A breakaway of zero will mean a further decline. The Stochastic is forming a Golden Cross, which predicts a short-term correction inside the overall downtrend. The pullback will aim at 23.6% Fibo.

Ripple unblocked another package of tokens

A couple of days ago, Ripple unblocked another package of tokens, i.e. it sent 1 billion XRP to the market. The unblocking went in two stages, 500 million of tokens each. This way the company attracts money for financing its projects and startups it is interested in directly or indirectly. Unblocking happens on the first day of each month, and Ripple has pretty many tokens in stock.

This year is not too good for Ripple. In the first quarter, the company sold tokens per 1.75 million USD. This 86% less than in the fourth quarter of 2019 when Ripple sold the XRP per 13.08 million USD. However, if we look at the preceding results, the end of 2019 was neither too positive. In the third quarter of 2019, Ripple sold tokens per 251.51 million USD. Compared to this result, the latest ones look disappointing, indeed.

This week, the attention of the Twitter bot has been attracted to a transaction sized 5.3 million USD, or 30 million XRP. The transaction was made from a Ripple wallet to an anonymous one. For some reason, the market is sure that this is the same wallet that used to receive large sums earlier. For example, there were pretty many such transactions in June: for example, per 30 million XRP on June 2nd, 40 million on June 8th, 20 million on June 25th, and more.

It is hard to figure out the character of these transactions. They could be inner transactions of Ripple, however, if so, the anonymity of the receiving wallet remains suspicious.

Disclaimer

Any predictions contained herein are based on the author’s particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.

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By Dmitriy Gurkovskiy, Chief Analyst at RoboForex