Analysis for November 4th, 2016
EUR USD, “Euro vs US Dollar”
Yesterday, the EUR/USD pair rebounded from the H4 Super Trend, which means that it may continue growing. The closest target is at the
7/8 level. If later the price rebounds from this level, the market may start a new descending correction.
At the H1 chart, the pair couldn’t fix below the
7/8 level. It’s highly likely that in the nearest future bulls may try to break the
8/8 level. If they succeed and the price fixes above this level, the market will continue growing to reach the
+2/8 one.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is moving in the middle of the chart below the
4/8 level. If the price breaks the H4 Super Trend in the nearest future, the instrument will continue moving to reach the closest target at the
2/8 level.
At the H1 chart, the pair is moving inside the “oversold zone”. To confirm a new descending movement, the price has to fix below Super Trends. If it happens, bears may test the
-2/8 level quite soon.
RoboForex Analytical Department