Analysis for August 23rd, 2016
The EUR/USD pair is moving above the H4 Super Trend again. Earlier, the price couldn’t stay below the 5/8 level, so it may resume moving upwards. The closest target for bulls is at the 7/8 level.
EUR USD, “Euro vs US Dollar”
At the H1 chart, Super Trends have formed “bullish cross”. Considering that the price is already moving above the 7/8 level, in the future it may continue grow to break the 8/8 one. If later the market is able to stay above the 8/8 level, it may reach the 2/8 one.
USD JPY, “US Dollar vs Japanese Yen”At first, the pair rebounded from the 1/8 level several times and fixed below the H4 Super Trend, and then got very close to the 0/8 one. If the price breaks the latter level, bears will continue their rally towards the -2/8 one.
As we can see at the H1 chart, Super Trends have formed “bearish cross”. Earlier, the pair rebounded from the 2/8 level and started the current decline. If the market breaks the 0/8 level and stays below it, the price will continue moving downwards.
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.