Analysis for October 7th, 2015
EURUSD, “Euro vs US Dollar”
Eurodollar is still consolidating. As soon as the price is able to stay under Super Trends, it will resume moving downwards. If later the pair breaks the 3/8 level and stays below it, the market will continue moving downwards to reach the 1/8 level or even the 0/8 one.
At the H1 chart, the pair also is moving in the middle. Possibly, Super Trends may form “bearish cross” during the day. I’m planning to open another sell order after the price breaks the 3/8 level and stays below it.
USDCHF, “US Dollar vs Swiss Franc”
Franc has rebounded from the daily Super Trend twice. In addition to that, the price has been supported by the 6/8 level, which means that it may resume moving upwards. I’m planning to increase my position after the price stays above Super Trends.
At the H1 chart, the pair is trying to rebound from the 0/8 level. If Super Trends form “bullish cross” in the nearest future, the market may resume growing. It’s highly likely, that the price may try to breaks the 4/8 level.
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