Analysis for February 27th, 2015
EUR USD, “Euro vs US Dollar”
Euro has left its month-long consolidation channel by making a fast descending movement. The price has broken the 4/8 level, and if later bears are able to stay below the 3/8 level, the market may continue falling towards the 1/8 one.
As we can see at the H1 chart, after breaking the 0/8 level, the pair is trying to stay inside “oversold zone”. During a local correction, I opened an additional sell order. In the future, the price may break the -2/8 level. In this case, the lines at the chart will be redrawn.
USD CAD, “US Dollar vs Canadian Dollar”
Canadian Dollar has rebounded from the 6/8 level several times, which means that the market may start another ascending movement. Probably, Super Trends may form “bullish cross” during the next several hours.
At the H1 chart, the price is moving in the middle. If the pair is able to stay above the 5/8 level during the day, it may continue growing towards the 8/8 one or even higher.
NZD JPY, “New Zealand Dollar vs Japanese Yen”
The pair s trying to rebounds from the H4 Super Trend. Earlier, the price was able to stay above the 5/8 level and continued growing towards the 8/8 one. Possibly, the market may reach a new local high during the day.
As we can see at the H1 chart, after rebounding from the 7/8 level, the pair was supported by the 6/8 level. Moreover, the price has rebounded from this level several times, which means that it may start a new ascending movement towards the 8/8 level.
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