Analysis for October 8th, 2015
EURUSD, “Euro vs US Dollar”
Eurodollar is still moving sideways. If later the pair breaks the 4/8 level and stays below it, the market will resume moving downwards. I’m holding a pending sell order.
At the H1 chart, the pair is testing the 6/8 level. If the price rebounds from it, the market will resume falling. In this case, the next target will be at the 4/8 level.
USDCHF, “US Dollar vs Swiss Franc”
Franc is also consolidating. The pair is supported by the daily Super Trend; the price has rebounded from it again. I’m planning to open another buy order after the price stays above the 7/8 level.
At the H1 chart, the pair has been supported by the 5/8 level. It’s highly likely that in the nearest future the market may try to test the 8/8 level. If the pair breaks this level, it may continue growing towards the +2/8 one.
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