Analysis for June 1st, 2015
EURUSD, “Euro vs US Dollar”
It looks like Eurodollar is finishing the correction. If the price is able to stay below the H4 Super Trend, it may continue falling towards the 0/8 level. After reaching it, the market may start a deeper ascending correction.
As we can see at the H1 chart, the current correction has faced resistance from the 4/8 level and rebounded from it. Possibly, in the nearest future Super Trends may form “bearish cross”. If later the market is able to stay below the 3/8 level, it will continue falling towards the 0/8 one.
AUDUSD, “Australian Dollar vs US Dollar”
Australian Dollar is consolidating inside “oversold zone”; the price is supported by the H4 Super Trend. If later the pair breaks the -2/8 level, the lines at the chart will be redrawn.
At the H1 chart, the price is trying to break the 5/8 level. If later price is able to stay below this level, the closest target will be at the 4/8 one. If the market breaks it, it will continue falling much deeper.
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