Analysis for April 10th, 2015
EURUSD, “Euro vs US Dollar”
Yesterday, Super Trends formed “bearish cross”. By now, Eurodollar has broken the 4/8 level, and if later it is able to stay below the 3/8 level, the market will continue falling to reach the 0/8 one. After reaching it, the pair may start a more serious correction.
As we can see at the H1 chart, the local target is at the 0/8 level. After reaching it, the price may start a short-term correction. Super Trends provide support. Most likely, in the nearest future, the pair will continue falling.
GBPJPY, “Great Britain Pound vs Japanese Yen”
The price has rebounded from the daily Super Trend several times and resumed falling. I’m holding a sell order with the stop loss in breakeven. The closest target is at the 0/8 level. After reaching it, the market may start a new correction.
At the H1 chart, the pair is moving at the bottom. Super Trends have formed “bearish cross”, which means that the pair may continue moving downwards. Possibly, the market may soon break the -2/8 level. In this case, the lines at the chart will be redrawn.
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