Analysis for August 12th, 2016
After rebounding from the 6/8 level, the EUR/USD pair is expected to resume falling. Possibly, after finishing the local correction, the market may test the 1/8 level and break the previous low.
EUR USD, “Euro vs US Dollar”
As we can see at the H1 chart, Super Trends have formed “bearish cross”, which means that the pair may start a new descending movement. The closest target is at the 4/8 level. If bears break this level, the market will continue falling much deeper.
AUD USD, “Australian Dollar vs US Dollar”After rebounding from the 7/8 level twice, the AUD/USD pair may resume falling. If the price breaks the H4 Super Trend and stays below it, the market will start moving downwards to reach the 4/8 level.
The lines at the H4 and H1 charts are completely the same, and it makes the 7/8 level, which the pair rebounded from twice, even more important. If Super Trends form “bearish cross” in the nearest future, I’m planning to increase my short position.
RoboForex Analytical Department
Without authorization, you can view no more than two reviews per day and no more than 10 per month. To continue reading analytical reviews, register or login to your Members Area.