Analysis for December 10th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar has rebounded from the 2/8 level twice, which means that it may resume moving downwards. If the price is able to stay under the H4 Super Trend, the market will start another decline.
The lines at the H4 and H1 charts are completely the same. it’s highly likely that on Thursday Super Trends may form “bearish cross”. The closest target is at the 0/8 level. If Eurodollar breaks this level, the price may fall much deeper.
NZD USD, “New Zealand Dollar vs US Dollar”
New Zealand Dollar has rebounded from the 7/8 level twice, which means that it may resume moving downwards. Possibly, on Thursday the pair may try to break Super Trends and stay below them. If it happens, I’ll increase my short position.
At the H1 chart, the current ascending correction faced resistance from the 6/8 level. Right now, the pair is moving in the middle of the chart. The short-term target is at the 2/8 level. If the price breaks this level and stays below it, the market will continue falling towards the bottom.
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