Analysis for May 20th, 2015
EURUSD, “Euro vs US Dollar”
After making a fast descending movement, Eurodollar is being corrected; Super Trends have formed “bearish cross”, which means that the pair may continue falling. Considering that the price has made a reverse from the 6/8 level, the target for bears is at the 2/8 one.
The lines at the H1 chart have been redrawn; bears are supported by Super trends. Considering that the price is moving below the 3/8 level, the closest target for bears is at the 0/8 one. After reaching this level, the market may rebound from it upwards.
GBPJPY, “Great Britain Pound vs Japanese Yen”
The pair has rebounded from the daily Super Trend. If the price is able to stay above the 8/8 level, it may continue growing towards the +2/8 one. If later this level is broken, the lines at the chart will be redrawn.
At the H1 chart, the pair is moving at the top; Super Trends have formed “bullish cross”, which means that the market may resume growing. The closest target is the +2/8 level.
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