Analysis for January 6th, 2016
At the H4 chart, Eurodollar is trying to stay below the 0/8 level. Earlier, Super Trends formed “bearish cross”. In the nearest future, the market may continue falling towards the -1/8 level.
EUR USD, “Euro vs US Dollar”
At the H1 chart, the pair is also trying to stay inside “oversold zone”. Yesterday, the price rebounded from the H1 Super Trend. If later the market breaks the -2/8 level, the lines at the chart will be redrawn.
USD CAD, “US Dollar vs Canadian Dollar”As we can see at the H4 chart, Canadian Dollar has broken the 7/8 level on the first try. Consequently, in the future the price may continue growing towards the 8/8 level. In case this level is broken as well, the pair will continue growing inside “overbought zone”.
At the H1 chart, the price is moving close to the 2/8 level. It’s highly likely that on Wednesday this level may be broken. I’m planning to open another buy order during the correction.
RoboForex Analytical Department
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