Analysis for February 17th, 2015
Euro is trying to stay below the H4 Super Trend, which is in “red zone”. If the price is able to stay below the 6/8 level, it may start moving towards the 4/8 one, which is the closest target.
EUR USD, “Euro vs US Dollar”
As we can see at the H1 chart, after rebounding from the 7/8 level, the market resumed falling. Super Trends formed “bearish cross”. I’m planning to increase my short position as soon as the pair is able to stay below the 3/8 level.
EUR GBP, “Euro vs Great Britain Pound”The pair is still consolidating; bears are supported by Super Trends. Considering that earlier the price was able to stay below the 3/8 level, later it may break the 1/8 level and then reach the 0/8 one.
The pair is moving in the bottom of the H1 chart; the downtrend is still supported by Super Trends. If the pair is able to stay below the 0/8 level, it may continue falling towards the -2/8 one.
GBP JPY, “Great Britain Pound vs Japanese Yen”The price is being corrected between Super Trends. If the pair is able to stay above the 5/8 level, it may continue growing to reach the 8/8 one and then start a more serious correction.
As we can see at the H1 chart, the long-term correction has resulted in “bearish cross” formed by Super Trends. We should note that if the price rebounds from the 7/8 level again, I’ll close the most of my orders.
RoboForex Analytical Department
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