Analysis for April 11th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar is still consolidating above the
5/8 level. Bulls are supported by the H4 Super Trend. Taking into account that the price has already rebounded from it several times, the market may continue moving upwards and reach the
7/8 level.
At the H1 chart, after rebounding from the
7/8 level, the price started a new correction, but wasn’t able to fall lower that he
4/8 one. Later, the pair managed to stay above the
5/8 level and resumed its growth. Thus, in the nearest future the market may break its local high and reach the
8/8 level.
USD CAD, “US Dollar vs Canadian Dollar”
After rebounding from the
4/8 level several times, Canadian Dollar resumed its decline and managed to stay under the
3/8 one. Taking into account that Super Trends are still influenced by “bearish cross”, the market may continue falling towards the
0/8 level.
At the H1 chart, the price rebounded from the 8/8 level and started falling. As a result, Super Trends formed “bearish cross”. If later the pair is able to stay below the
5/8 level, it may continue moving downwards to reach the
3/8 one.
RoboForex Analytical Department