Analysis for October 20th, 2016
EUR USD, “Euro vs US Dollar”
After rebounding from the H4 Super Trend, the EUR/USD pair fixed below the
4/8 level. Consequently, in the nearest future the market may test the
3/8 level. If the price rebounds this level, is may start a local ascending correction.
At the H1 chart, the pair is moving inside the “oversold zone”. Earlier, the price rebounded from the
1/8 level and then Super Trends formed “bearish cross”. As a result, quite soon the market may test the
-2/8 level.
USD CAD, “US Dollar vs Canadian Dollar”
Yesterday, the USD/CAD pair rebounded from the daily Super Trend and the
1/8 level. This was the second time the price rebounded from these levels, so later it may resume moving upwards. The closest target is at the
6/8 level. If the market breaks this level, bulls will continue pushing the price much higher.
At the H1 chart, Super Trends formed “bullish cross”. If the price breaks the
4/8 level during the day and stays above it, the market will continue growing towards the
6/8 one.
RoboForex Analytical Department