Analysis for November 23rd, 2016
The EUR/USD pair is still consolidating below the H4 Super Trend. If later the price is able to stay below the -1/8 level, the market will continue its decline. The closest target is at the -2/8 level.
EUR USD, “Euro vs US Dollar”
At the H1 chart, the pair is consolidating between Super Trends, which are still influenced by “bearish cross”. On Wednesday, the price may continue the current correction and test the local low, but later the market is expected to start a new descending movement towards the 0/8 level.
The 3/8 level provided resistance. At the same time, the H4 Super Trend is a support level, as the price already rebounded from it earlier. On Wednesday, the USD/CHF pair may test the Super Trend again. If the market rebounds from it, the pair may resume moving upwards.
USD CHF, “US Dollar vs Swiss Franc”
As we can see at the H1 chart, the pair rebounded from the 8/8 level and started a new local correction. Later, the price may test the 6/8 level. If the pair rebounds from it to the upside, the market will resume growing and may break the previous high.
RoboForex Analytical Department
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