Analysis for April 22nd, 2016
EURUSD, “Euro vs US Dollar”
Eurodollar is still moving inside the flat. Yesterday, bulls failed to keep the price above Super Trends, which means that the pair may fall towards the 4/8 level. If bears break this level and keep the price below it, the market will continue falling much deeper.
At the H1 chart, Super Trends formed “bearish cross”. Yesterday, the pair rebounded from the 5/8 level for the third time in a row. In the nearest future, the market may fall towards the 0/8 level and break it. In this case, Eurodollar will be able to continue falling to reach the -2/8 level.
AUDUSD, “Australian Dollar vs US Dollar”
Australian Dollar is attempting to rebound from the 8/8 level again. The pair is already moving under the H4 Super Trend, which means that may continue falling towards the 6/8 level. If this level is broken, will move downwards to reach the 4/8 one.
At the H1 chart, the pair hasn’t been able to stay above the 8/8 level, and, as a result, Super Trends formed “bearish cross”. The closest target for bears is at the 4/8 level. If the market breaks it, the price will fall much deeper.
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