Analysis for December 29th, 2016
The EUR/USD pair is still being corrected. Yesterday, the price rebounded from the 5/8 level again and right now is moving towards the daily Super Trend. If later the price rebounds from it, the market may resume falling.
EUR USD, “Euro vs US Dollar”
At the H1 chart, the 0/8 level provided support and, as a result, Super Trends formed “bullish cross”. In the nearest future, the local correction may take place, but later the market is expected to continue growing towards the 1/8 level.
The GBP/JPY pair rebounded from the 6/8 level and Super Trends, and then resumed its decline. As a result, in the nearest future the market may continue moving downwards to reach the 5/8 level. After reaching this level, the price may start a new local correction.
GBP JPY, “Great Britain Pound vs Japanese Yen”
At the H1 chart, Super Trends formed “bearish cross”. The pair is moving close to the -1/8 level inside the “oversold zone”, which means that a new local correction may be taking place. Later, the market is expected to continue falling and test the -2/8 level. In case this level is broken, the lines at the chart will be redrawn.
RoboForex Analytical Department
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