Analysis for December 4th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar rebounded from the -2/8 level and started a significant growth, during which the stops on my sell orders worked. Right now, I’m staying out of the market. In the nearest future, the price may start a local correction. If later the market rebounds from the 2/8 level once again, I’m planning to resume selling.
The situation is quite interesting on the H1 chart: with a single ascending movement, the price has broken the distance between the 0/8 and 8/8 levels without any serious corrections. On Friday, the pair may be corrected towards the 6/8 level and then resume growing.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is trying to get back under the 8/8 level and resume its decline. I'm holding a sell order, but planning to increase my position if the pair is able to stay below Super Trends. The closest target is at the 6/8 level.
At the H1 chart, the pair is moving at the top as well. If Super Trends form “bearish cross” and the price breaks the 6/8 level, the pair may continue falling.
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