Analysis for January 13th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar has been able to stay under Super Trends, which means that it may start a new correction. The closest target is at the 0/8 level. If the pair rebounds from it, the market may resume its ascending movement.
As we can see at the H1 chart, Eurodollar has been able to stay under the 3/8 level, which means that it may continue falling. Moreover, Super Trends have formed “bearish cross”. On Wednesday, the market may fall towards the 0/8 level.
NZD USD, “New Zealand Dollar vs US Dollar”
At the H4 chart, New Zealand Dollar is moving in the middle. The current decline is supported by Super Trends. If later the price is able to stay below the 3/8 level, it may continue falling towards the 0/8 one.
The lines at the H4 and H1 charts are completely the same. I’m planning to open another sell order as soon as the pair breaks Super Trends downwards. When the price breaks the minimum, I’ll move stop losses on my sell orders to the local high.
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