Analysis for March 17th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar continues growing. The closest level, which may stop the bullish rally, is the 5/8 one. If the price rebounds from this level quickly, bears may return to the market. Otherwise, the pair will continue moving upwards.
At the H1 chart, Eurodollar is moving inside “overbought zone”. The pair may start a new local correction from the +1/8 level. If later the market rebounds from the H4 Super Trend, the price will continue growing towards the +2/8 level.
NZD JPY, “New Zealand Dollar vs Japanese Yen”
The price is already moving above the 5/8 level, which means that bulls may return to the market. Possibly, quite soon the pair may break this month’s high. I’m planning to increase my position after Super Trends form “bullish cross”.
At the H1 chart, the pair is moving in the middle. Yesterday, Super Trends formed “bullish cross” and I decided to open a buy order. In the nearest future, the market may move upwards to reach the 5/8 level.
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