Analysis for August 30th, 2016
After Super Trends had formed “bearish cross”, bears returned to the market. It’s highly likely that in the nearest future the EUR/USD pair may continue moving downwards to reach the 1/8 level.
EUR USD, “Euro vs US Dollar”
As we can see at the H1 chart, the pair is being corrected close to the 2/8 level. If the price is able to stay under this level, the market will continue falling to reach the 0/8 one.
USD CAD, “US Dollar vs Canadian Dollar”The USD/CAD pair is trying to break the weekly Super Trend. If the price stays above this level, the closest target for bulls will be at the 7/8 one. In case the market rebounds from the latter level, the pair will start a new descending correction.
At the H1 chart, the pair is moving at the top. Earlier, Super Trends formed “bullish cross”. Consequently, if the price stays above the 8/8 level, the market will continue moving upwards to reach the 2/8 one.
RoboForex Analytical Department
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