Analysis for December 7th, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair is again moving below the
0/8 level, but didn’t fix under Super Trends so far. As soon as it happens, the price may resume falling towards the
-1/8 level. After reaching it, the market may start a local ascending correction.
At the H1 chart, the pair left the “overbought zone” and fixed below the
8/8 level. In the nearest future, the market may fall towards the
5/8 level. If later the price breaks this level, it may continue moving downwards.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair couldn’t fix above the
8/8 level inside the “overbought zone” and right now is moving below this level and the H4 Super Trend. As a result, during the next several days the market may fall towards the
6/8 level.
At the H1 chart, Super Trends formed “bearish cross”. The closest target is at the
6/8 level. If later this level is broken, the market may continue falling towards the
4/8 one.
RoboForex Analytical Department