Analysis for March 6th, 2015
EURUSD, “Euro vs US Dollar”
Euro is still moving downwards and supported by Super Trends. The price has broken the 3/8 level and stayed below it, which means that it may continue falling towards the 0/8 one.
As we can see at the H1 chart, yesterday the pair reached the 0/8 level. However, as long as the price is moving below Super Trends, there is a possibility that it may continue falling. If the market breaks the 0/8 level and stays below it, the closest target will be at the -2/8 one.
AUDUSD, “Australian Dollar vs US Dollar”
Australian Dollar has broken the 0/8 level and right now is moving inside “oversold zone”. Super Trends are still influenced by “bearish cross”. In the near term, the market may continue falling towards the -2/8 level and even break it.
The market is moving in the middle of the H1 chart. If later the pair breaks the 3/8 level, the price will continue falling towards the 0/8 level. I’ve opened another sell order when the price rebounded from the 4/8 level.
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