Analysis for March 17th, 2015
Eurodollar is being corrected between Super Trends. If the pair is able to stay below the 3/8 level, bears will continue pushing the price towards the 0/8 one. Possibly, in the nearest future the price may reach a new low.
EUR USD, “Euro vs US Dollar”
As we can see at the H1 chart, Super Trends have formed “bullish cross” during the correction. if the price rebounds from the 3/8 level once again, the target will be at the 0/8 one. I’ve opened an additional sell order during a local correction.
USD CAD, “US Dollar vs Canadian Dollar”At the H4 chart, Canadian Dollar has broken the 5/8 level and stayed above it. Probably, after finishing a local correction, the pair may continue growing towards the 8/8 level. After reaching it, the market may start a deeper pullback downwards.
The lines at the H4 and H1 charts are completely the same. Bulls are supported by Super Trends. I’m planning to move my stop losses under a local low as soon as the price breaks the maximum.
RoboForex Analytical Department
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