Analysis for December 11th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar hasn’t been able to stay above the 2/8 level and right now is moving below it again, which means that the market may resume moving downwards. Moreover, the price is under the H4 Super Trend. The closest target for bears is at the 0/8 level.
The lines at the H4 and H1 charts are completely the same. Super Trends have formed “bearish cross”. On Friday, Eurodollar may resume its decline and break the yesterday’s low.
NZD USD, “New Zealand Dollar vs US Dollar”
New Zealand Dollar has rebounded from the 7/8 level four times, which means that it may start a descending correction, at least. If the pair breaks Super Trends and stays below them, the market may continue falling.
At the H1 chart, the current ascending correction faced resistance from the 6/8 level. Quite soon, the pair may break the 4/8 level and Super Trends may form “bearish cross”. If it happens, I’ll increase my short position.
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Editors’ Picks
EUR/USD edges lower toward 1.0700 post-US PCE
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GBP/USD retreats to 1.2500 on renewed USD strength
GBP/USD lost its traction and turned negative on the day near 1.2500. Following the stronger-than-expected PCE inflation readings from the US, the USD stays resilient and makes it difficult for the pair to gather recovery momentum.
Gold struggles to hold above $2,350 following US inflation
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Week ahead – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too
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