Analysis for January 26th, 2016
EUR USD, “Euro vs US Dollar”
The price is still consolidating close to Super Trends. Considering that earlier Eurodollar rebounded from the 1/8 level twice, in the nearest future the market may start growing towards the 3/8 one.
At the H1 chart, Eurodollar is moving in the middle. If later the market breaks Super Trends and the 4/8 level and stays above them, the pair will continue moving upwards to reach the 6/8 one.
GBP JPY, “Great Britain Pound vs Japanese Yen”
At the H4 chart, the GBP JPY currency pair hasn’t been able to break Super Trends on the first try. If later the price is able to stay above the 2/8 level, the market will resume moving upwards. In this case, the target will be at the 3/8 level.
As we can see at the H1 chart, the pair has rebounded from the 3/8 level and right now is moving in the channel between this level and the 5/8 one. Consequently, if the price breaks Super Trends and stays above them during the day, the market may grow a little bit.
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