Analysis for November 18th, 2016
The EUR/USD pair is still moving downwards inside the “oversold zone”. Earlier, Super Trends formed “bearish cross”. As a result, in the nearest future the price may continue its descending movement towards the -2/8 level.
EUR USD, “Euro vs US Dollar”
The lines at the H4 and H1 charts are completely the same. The pair is still moving below Super Trends. If later the price rebounds from the -2/8 level, the lines at the chart will be redrawn.
The USD/CHF pair is getting closer to the 3/8 level. After reaching it, the price may start a new descending correction. Moreover, taking into account that this level matches the 7/8 one from the daily chart, a possibility of a new descending correction is increasing.
USD CHF, “US Dollar vs Swiss Franc”
At the H1 chart, the pair rebounded from Super Trends and started growing again. Yesterday, the price reached a new local high. To confirm a new correction, the market has to break Super Trends and fix below them.
RoboForex Analytical Department
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