Analysis for March 5th, 2015
EURUSD, “Euro vs US Dollar”
Euro is moving near its local lows and supported by Super Trends. The price has broken the 3/8 level and stayed below it, which means that it may continue falling towards the 0/8 one.
The lines at the H1 chart have been redrawn. If the price is able to stay below the 1/8 level in the nearest future, the pair will continue falling. Probably, the market may try to break the 0/8 level. If it succeeds, the pair will continue falling inside “oversold zone”.
AUDUSD, “Australian Dollar vs US Dollar”
Australian Dollar has broken the 0/8 level and right now is moving inside “oversold zone”. Super Trends are still influenced by “bearish cross”. In the near term, the market may continue falling towards the -2/8 level and even break it.
At the H1 chart, the pair is attempting to stay below the 3/8 level. If bears succeed, the price will continue falling towards the 0/8 level. During a correction, I’ve opened another sell order.
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