Analysis for February 20th, 2015
Euro is trying to resume its descending movement and stay below the H4 Super Trend. The closest target is still at the 0/8 level. If the market breaks it, it may continue falling and reach the -2/8 one. I’m planning to move my stop loss after the market.
EUR USD, “Euro vs US Dollar”
As we can see at the H1 chart, the market has rebounded from the 7/8 level for the third time, which means that it may resume falling; Super Trends have formed “bearish cross”. I’m planning to increase my short position as soon as the pair is able to stay below the 4/8 level.
EUR GBP, “Euro vs Great Britain Pound”The pair has rebounded from the H4 Super Trend again. Considering that earlier the price was able to stay below the 3/8 level, later it may fall to reach the 0/8 one. If this level is broken as well, bears may push the market deeper.
At the H1 chart, the price is trying to break the 6/8 level; Super Trends are still influenced by “bearish cross”. Most likely, the pair will reach the 0/8 level during the day. After that, the market may start a new local correction.
GBP JPY, “Great Britain Pound vs Japanese Yen”The main trend is still bullish. 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.
The price is moving in the middle of the H1 chart. If the market is supported by Super Trends and later is able to stay above the 5/8 level, it may continue growing towards the 8/8 one.
RoboForex Analytical Department
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