Analysis for March 16th, 2016
Eurodollar has been able to stay under the H4 Super Trend and the 3/8 level as well. Consequently, in the nearest future the market may continue falling. The closest target for bears is at the 2/8 level and the daily Super Trend.
EUR USD, “Euro vs US Dollar”
At the H1 chart, Super Trends have formed “bearish cross”. Earlier, the price rebounded from the 7/8 level several times and resumed moving downwards. During the day, Eurodollar may break its local low and then continue falling towards the 4/8 level.
NZD USD, “New Zealand Dollar vs US Dollar”New Zealand Dollar has been able to stay under the weekly Super Trend, and earlier it didn’t manage to stay above the 7/8 level. Consequently, later the pair may continue falling. The closest target for bears is at the 2/8 level. If this level is broken, the market will continue falling deeper.
At the H1 chart, Super Trends have formed “bearish cross”. It’s highly likely that after completing the local correction, the pair will continue falling inside “oversold zone”. If later the price breaks the -2/8 level, the lines at the chart will be redrawn.
RoboForex Analytical Department
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