Analysis for September 2nd, 2015
EUR USD, “Euro vs US Dollar”
At the H4 chart, Eurodollar is still moving in the middle. Possibly, Super Trends may form “bearish cross” during the day. I’m planning to increase my short position as soon as the pair breaks the 4/8 level and stays below it.
At the H1 chart, the pair is moving below the 1/8 level, which means that it may resume falling. It’s highly likely that Super Trends may form “bearish cross” quite soon. If the market breaks the 0/8 level, it will continue moving towards the -2/8 one.
GBP JPY, “Great Britain Pound vs Japanese Yen”
The pair has rebounded from the 1/8 level twice, which means that it start an ascending correction. If the market breaks the H4 Super Trend, the price will continue falling towards the 3/8 level faster.
The lines at the H4 and H1 charts are completely the same. The price is moving between Super Trends. As soon as the pair stays above the 2/8 level, I’m going to increase my long position and move the stop loss on my current order to breakeven.
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