Analysis for November 10th, 2016
EUR USD, “Euro vs US Dollar”
Yesterday, the bullish rally was stopped by the
+1/8 level and the price rebounded from it. The pair plummeted and broke the daily Super Trend. On Thursday, the market may test the
4/8 level. If it rebounds from this level, the price may resume falling towards the
2/8 one.
At the H1 chart, Super Trends formed “bearish cross”. After finishing the local correction below the
4/8 level, the pair may test the
2/8 one. If the price breaks this level, the market may continue falling to reach the
0/8 one.
AUD USD, “Australian Dollar vs US Dollar”
At the H4 chart, the AUD/USD pair is consolidating between Super Trends. Earlier, it rebounded from the
7/8 level. It looks like very soon bears may try to test the
4/8 level again.
At the H1 chart, yesterday’s decline was stopped by the
1/8 level. In addition to this, Super Trends formed “bearish cross”, which means that the pair may continue moving downwards. If the price stays under the
4/8 level, then in the nearest future the market may fall towards the
0/8 one.
RoboForex Analytical Department