Analysis for October 6th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar has been able to stay under the 4/8 level; Super Trends are still influenced by “bearish cross”. If later the price is able to stay below Super Trends, the pair may continue moving downwards to reach the first target at the 2/8 level.
At the H1 chart, the pair is moving in the middle. It’s highly likely that Super Trends may form “bearish cross” during the day. If the price breaks the 3/8 level and stays below it, the next target will be at the 0/8 one.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is trying to break the 4/8 level. The pair is supported by Super Trends, which earlier formed “bearish cross”. The closest target is at the 3/8 level.
At the H1 chart, the pair is about to enter “oversold zone”. After the price breaks the 0/8 level, the next target will be at the -2/8 one. If this level is broken as well, the lines at the chart will be redrawn.
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