Analysis for November 25th, 2014
EUR USD, “Euro vs US Dollar”
Eurodollar is still being corrected. Earlier, the price rebounded from the daily Super Trend several times and stayed below it. The closest target is at the 4/8 level. After reaching it, the market may start a more serious pullback.
As we can see at the H1 chart, the price has rebounded from the 1/8 level. However, I haven’t closed my sell orders, because the targets on major time frames haven’t been reached yet. Super Trends are still influenced by “bearish cross”. I’m planning to increase my short positions as soon as the pair is able to stay below the 3/8 level.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar continues moving inside the downtrend; the market has broken the 4/8 level and is trying to stay below it. Earlier, during a local correction, I opened another sell order; the stop loss has already been moved to breakeven. If price is able to stay below the 3/8 level, the market will continue moving downwards.
As we can see at the H1 chart, the pair is moving inside “oversold zone” and supported by Super Trends. If later the price breaks the -2/8 level, the lines at the cart will be redrawn.
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