Analysis for August 17th, 2016
The EUR/USD pair is still moving inside the “overbought zone”. In the nearest future, after finishing the local correction, the price may continue growing towards the 2/8 level. If later the price breaks this level, the lines at the chart will be redrawn.
EUR USD, “Euro vs US Dollar”
As we can see at the H1 chart, the pair is trying to stay above the H1 Super Trend. If bulls succeed, the market may resume growing. Otherwise, the local correction may continue, and, as a result, the market may test the 0/8 level.
USD CHF, “US Dollar vs Swiss Franc”The USD/CHF pair has rebounded from the 5/8 level and started plummeting. Considering that the market is moving close to the 2/8 level, in the nearest future the pair may resume falling. The closest target is at the 0/8 level. After reaching it, the price may start a new correction.
At the H1 chart, Super Trends are influenced by “bearish cross”. On Wednesday, the pair may break the 5/8 level and then continue falling to reach the 4/8 one.
RoboForex Analytical Department
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