Analysis for September 21st, 2016
EUR USD, “Euro vs US Dollar”
After failing to break the H4 Super Trend, the EUR/USD pair reached a new local low. On Wednesday, the local correction with the target at the
3/8 level may take place. If the market rebounds from this level, it will resume falling to reach the
1/8 one.
At the H1 chart, Super Trends are still influenced by “bearish cross”. The pair couldn’t stay under the
5/8 level and started a new local correction. If later the price rebounds from the
6/8 level, the market will start a new descending movement.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is moving inside the “overbought zone”. It’s highly likely that during the day the price may test the
8/8 level one more time. If the market rebounds from this level, it may resume moving upwards. The closest target is at the
+2/8 level.
At the H1 chart, the situation is similar. To confirm a new growth, the pair has to fix above Super Trends. As soon as it happens, I’m planning to increase my long positions.
RoboForex Analytical Department