Analysis for October 13th, 2016
The EUR/USD pair reached the 4/8 level. If the price rebounds from this level, it may start a new local ascending correction. The closest target for bulls is at the 5/8 level and the H4 Super Trend. If later the market rebounds from these levels as well, it may resume its descending movement.
EUR USD, “Euro vs US Dollar”
At the H1 chart, the pair reached the 0/8 level and right now is trying to rebound from it, which means that the price may start a new ascending correction. If later the market rebounds from the 2/8 level, it may reach a new local and the -2/8 level.
The NZD/USD pair is moving inside the “oversold zone” under the 0/8 level. Earlier, Super Trends formed “bearish cross”. Consequently, in the nearest future the market may be corrected, but later the price is expected to test the -2/8 level.
NZD USD, “New Zealand Dollar vs US Dollar”
At the H1 chart, the pair may start a new local correction with the target at 0/8. If later the price rebounds from this level, it may start a new decline. After the market breaks the -2/8 level, the lines at the chart will be redrawn.
RoboForex Analytical Department
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