Analysis for September 27th, 2016
The EUR/USD pair tested the 5/8 level, but couldn’t stay above it. Consequently, in the nearest future the market may resume moving downwards to reach the 3/8 level. If later the price breaks this level, the market will continue falling much deeper.
EUR USD, “Euro vs US Dollar”
At the H1 chart, the pair is moving inside the “overbought zone”. To confirm a new decline, a local at least, the price has to break Super Trends along with the 8/8 level and stay below them. If it happens, the closest bearish target will be at the 6/8 level.
GBP USD, “Great Britain Pound vs US Dollar”The GBP/USD pair is being corrected under the H4 Super Trend. Moreover, the price rebounded from the 1/8 level. As a result, in the nearest future the market may resume falling towards the -2/8 level.
At the H1 chart, the pair is moving in the middle. Considering that the price rebounded from the 5/8 level earlier, the market is expected to continue falling towards the 3/8 level in the nearest future. If later this level is broken, the instrument may fall much deeper.
RoboForex Analytical Department
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