Analysis for October 27th, 2015
EURUSD, “Euro vs US Dollar”
Eurodollar is trying to rebound from the H4 Super Trend. It’s highly likely that during the day the price may break the 0/8 level and continue falling inside “oversold zone”. I’m planning to move the stop losses on my current order to the local high when the market breaks the minimum.
The lines at the H4 and H1 charts are completely the same. Earlier, during the current correction, I opened another sell order. I’m planning to increase my position after the price stays below the 0/8 level.
USDCAD, “US Dollar vs Canadian Dollar”
At the H4 chart, Canadian Dollar is moving in the middle. Earlier, Super Trends formed “bullish cross”. If bulls are able to break the 4/8 level during the day, the pair will continue growing towards the 5/8 one.
As we can see at the H1 chart, the pair is about to enter “overbought zone”. The price is supported by Super Trends. The closest target is at the +2/8 level. It’s highly likely that the pair may reach several new local highs on Tuesday.
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