Analysis for January 9th, 2017
EUR USD, “Euro vs US Dollar”
Last Friday, the EUR/USD pair rebounded from the 7/8 level again and returned to Super Trends, which earlier formed “bullish cross”. If later the price rebounds from the 6/8 level, the market may test the 7/8 level one more time.
As we can see at the H1 chart, the 8/8 level provided resistance. Right now, the price is moving between Super Trends. In the nearest future, the market may test he 4/8 level. If the price rebounds from this level, it may start a short-term growth towards the 8/8 one.
USD CAD, “US Dollar vs Canadian Dollar”
The USD/CAD pair rebounded twice form the 0/8 level and the weekly Super Trend. Consequently, in the nearest future the market may grow towards the 3/8 level. If later the piece breaks this level and fixes above it, the pair will continue moving upwards.
The lines at the H4 and H1 charts are completely the same. Taking into account that Super Trends are still influenced by “bearish cross”, the market has to fix above them in order to confirm a new ascending movement.
RoboForex Analytical Department