Analysis for February 4th, 2016
In case of Eurodollar, the price continues moving upwards quite fast and this growth is supported by the H4 Super Trend. However, the 8/8 level may provide resistance to this rally. If the pair rebounds from this level, it may start a new descending correction.
EUR USD, “Euro vs US Dollar”
The lines at the H4 and H1 charts are completely the same. In order to start a new correction, the pair has to break Super Trends and stay below them. As soon as it happens, the price may start falling towards the 6/8 level.
USD CHF, “US Dollar vs Swiss Franc”At the H4 chart, Super Trends have formed “bearish cross”. The closest target for bears is at the 3/8 level. If the pair rebounds from this level upwards, it may start a new local correction.
At the H1 chart, Franc has rebounded from the H1 Super Trend and the 2/8 level. It’s highly likely that the market may break the minimum quite soon. The closest target for bears is at the -2/8 level.
RoboForex Analytical Department
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