Analysis for December 21st, 2016
At the H4 chart, the EUR/USD pair rebounded from the 1/8 level twice, which means that it may start a new ascending correction. The closest target is at the 2/8 level. If later the price rebounds from this level, the market may resume moving downwards.
EUR USD, “Euro vs US Dollar”
As we can see at the H1 chart, the pair rebounded from the 0/8 level and right now is moving between Super Trends. To confirm a new correction, the price has to break the 2/8 level and fix above it. If it happens, the market will grow towards the 4/8 level.
The CAD/JPY pair rebounded from the 8/8 level and the daily Super Trend. As a result, in the nearest future the market may resume growing. The closest target is at the 2/8 level. If later the price rebounds from this level, it may start a new bearish correction.
CAD JPY, “Canadian Dollar vs Japanese Yen”
At the H1 chart, the pair is trying to fox above the 5/8 level. Super Trends are about to form “bullish cross”. Consequently, in the nearest future the market may grow towards the 8/8 level.
RoboForex Analytical Department
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