Analysis for January 12th, 2016
Eurodollar is still being corrected. If the price is able to stay under Super Trends, it may move to reach the 0/8 level. However, if the pair breaks the 1/8 level and stays above it, the market may start a new ascending movement.
EUR USD, “Euro vs US Dollar”
At the H1 chart, Eurodollar is moving in the middle. The closest target of the current local correction is at the 2/8 level. If this level is broken, the market may fall towards the 0/8 one.
USD CAD, “US Dollar vs Canadian Dollar”The lines at the H4 chart have been redrawn. During the next several days, Canadian Dollar may continue growing to reach the 3/8 level. If the price rebounds from it, the market may start a new descending correction.
At the H1 chart, the price is moving inside “overbought zone”; the current growth is supported by Super Trends. It’s highly likely that quite soon the pair may break the 2/8 level and the lines at the chart will be redrawn.
RoboForex Analytical Department
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