Analysis for January 6th, 2017
After rebounding from the 5/8 level four times, the EUR/USD pair started an ascending correction and, as a result, Super Trends formed “bullish cross”. Possibly, after finishing the local correction, the price may test the 7/8 level again. If the pair rebounds from this level, the market may try to resume its decline.
EUR USD, “Euro vs US Dollar”
As we can see at the H1 chart, the pair couldn’t break the 8/8 level on the first try and right now is being corrected between Super Trends. Consequently, in the nearest future the market may continue falling towards the 5/8 level. If later the price rebounds from this level, it may try to resume its growth.
The GBP/JPY pair is attempting to fix below the 4/8 level and Super Trends. Earlier, the price rebounded from the 5/8 level. As a result, in the nearest future the market may continue moving downwards to reach the 2/8 level.
GBP JPY, “Great Britain Pound vs Japanese Yen”
At the H1 chart, Super Trends formed “bearish cross”. In the nearest future, the market may fall towards the 0/8 level. To confirm this scenario, the price has to fix below the 3/8 level.
RoboForex Analytical Department
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