Analysis for January 4th, 2016
EURUSD, “Euro vs US Dollar”
As we can see at the H4 chart, after rebounding from the 2/8 level several times, Eurodollar has resumed its decline. It’s highly likely that in the nearest future Super Trends may form “bearish cross”. The closet target is at the 0/8 level.
At the H1 chart, after rebounding from the 3/8 level, Eurodollar has started a new correction. If later the market is able to stay under Super Trends and the 3/8 level, I’m planning to open another sell order.
AUDUSD, “Australian Dollar vs US Dollar”
Australian Dollar has rebounded from the daily Super Trend and the 8/8 level as well. It’s highly likely that in the future the pair may continue falling. If the price is able to stay under the 3/8 level, it may continue moving downwards to reach the 0/8 one.
The lines at the H4 and H1 charts are completely the same. Super Trends have formed “bearish cross”, which means that the downtrend may continue. Possibly, the market may reach a new local low on Monday.
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