Analysis for May 12th, 2016
Eurodollar is attempting to stay under Super Trends, which may form “bearish cross” in the nearest future. The closest downside target is at the 1/8 level. If the pair breaks it, the market will continue falling to reach the 0/8 level.
EUR USD, “Euro vs US Dollar”
At the H1 chart, the pair has rebounded from the 3/8 level. When the price broke Super Trends, I opened a new sell order with the target at the -2/8 level. Possibly, during the day the market may break yesterday’s low.
GBP USD, “Great Britain Pound vs US Dollar”Pound is moving close to Super Trends. Earlier, the price rebounded from the 1/8 level. If the pair breaks the 6/8 level in the nearest future, it will continue falling towards the 4/8 one.
At the H1 chart, the pair is moving in the middle. Considering that the 5/8 level provided very strong resistance, the market may fall towards the 3/8 one. If this level is broken, the market may reach the 2/8 one.
RoboForex Analytical Department
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