Supposedly, a bullish impetus within the fifth wave has finished forming. Apparently, a reversal has formed and a counter-trend sentiment in the first wave of junior level (i) is developing locally. If this assumption is correct and the price does not break through the critical level of 125.87, the pair will continue to drop to the levels of 119.00–118.00.
Sell the pair from corrections below the level of 125.87 with a target of 119.00–118.00.
Breakthrough and consolidation above the level of 125.87 will allow the pair to continue rising up to the levels of 126.00–126.50.
September 27, 2016 Markets start last week of September on the back foot
It hasn't been a great start for global equities in this last week of September, with European indices dropping between 1.0 to 1.5 per cent during Monday’s morning session, mirroring a similar performance in Chinese and Japanese markets overnight...
September 23, 2016 Gold rises to critical level on lower-for-longer policy signals
The price of gold extended its rebound modestly on Thursday after the US Federal Reserve provided some key signals on Wednesday that, despite a considerable probability of one Fed rate hike by the end of this year...
September 22, 2016 Moving on from the Fed
The reaction seen in currency markets yesterday to respective central bank policy decisions was instructive of the change in dynamics that we’re seeing. The BoJ enacted a number of changes to its policy regime...
The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website (reviews, brokers' news, comments, analysis, quotes, forecasts or other information materials provided by Forex Ratings, as well as information provided by the partners), including graphical information about the forex companies, brokers and dealing desks, is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about the forex companies. The entire responsibility for the contents rests with the commentators. Reprint of the materials is available only with the permission of the editorial staff.