Analysis for June 30th, 2015
EURUSD, “Euro vs US Dollar”
Yesterday, after reaching the 2/8 level, the market started a strong ascending correction, which faced resistance from the 4/8 level and rebounded from it. Super Trends are still influenced by “bearish cross”. If the price is able to stay below the 3/8 level, it will resume falling.
As we can see at the H1 chart, the price has rebounded from the 4/8 level as well. The closest target is at the 1/8 level. If the pair breaks it, the market will continue falling much deeper to reach the -2/8 level and may even break it.
NZDUSD, “New Zealand Dollar vs US Dollar”
New Zealand Dollar has been able to stay below the 0/8 level inside “oversold zone”; bears are supported by Super Trends. The closest target s at the -2/8 level. If this level is broken, the lines at the chart will be redrawn.
At the H1 chart, the market is moving at the bottom. Earlier, Super Trends formed “bearish cross”. It looks like the market may reach a new local low during the day.
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