Analysis for September 21st, 2016
After failing to break the H4 Super Trend, the EUR/USD pair reached a new local low. On Wednesday, the local correction with the target at the 3/8 level may take place. If the market rebounds from this level, it will resume falling to reach the 1/8 one.
EUR USD, “Euro vs US Dollar”
At the H1 chart, Super Trends are still influenced by “bearish cross”. The pair couldn’t stay under the 5/8 level and started a new local correction. If later the price rebounds from the 6/8 level, the market will start a new descending movement.
USD CHF, “US Dollar vs Swiss Franc”The USD/CHF pair is moving inside the “overbought zone”. It’s highly likely that during the day the price may test the 8/8 level one more time. If the market rebounds from this level, it may resume moving upwards. The closest target is at the 2/8 level.
At the H1 chart, the situation is similar. To confirm a new growth, the pair has to fix above Super Trends. As soon as it happens, I’m planning to increase my long positions.
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.