Analysis for July 29th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is being corrected. Yesterday the pair was supported by the 3/8 level. It’s very likely that the price may break Super Trends downwards during the day. In this case, I’ll open another sell order.
At the H1 chart, the price is moving at the top. Earlier the price rebounded from the 8/8 level. If later the pair breaks the 5/8 level and stays below it, the market may start a new descending movement.
GBP JPY, “Great Britain Pound vs Japanese Yen”
The pair is still moving in the middle of the chart. The price is trying to stay above Super Trends, which are in “green zone” again. In the nearest future, the market may continue growing towards the 5/8 level.
As we can see at the H1 chart, Super Trends have formed “bullish cross”. It’s very likely that the pair may reach the 8/8 level quite soon. After breaking this level, the price may continue growing inside “overbought zone”.
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