Analysis for November 14th, 2014
EUR USD, “Euro vs US Dollar”
The correction continues; the market is still moving above the H4 Super Trend. If the market breaks it downwards, the pair will resume falling. The target is at the 4/8 level. However, I’ve decided to keep my buy order with the stop loss in breakeven in case the price makes a short-term ascending movement.
At the H1 chart, the price is moving in the middle. Probably, in the nearest future Super Trends may form “bearish cross”. In this case, the market will continue falling towards the 0/8 level.
CAD JPY, “Canadian Dollar vs Japanese Yen”
The price is still moving inside “overbought zone”; yesterday it rebounded from the H4 Super Trend. The target for the next several days is at the +2/8 level. After reaching it, the market may start a correction.
As we can see at the H1 chart, the pair is already moving above the 5/8 level, which means that it may continue growing towards the 8/8 one. Bulls are supported by Super Trends. I’ll move the stop losses higher as soon as the market breaks the previous high.
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