Analysis for February 17th, 2016

EURUSD, “Euro vs US Dollar”

Eurodollar is moving between Super Trends. If the price breaks the 3/8 level and stays below it and Super Trends form “bearish cross”, the current descending correction may become deeper.

EURUSD

At the H1 chart, Super Trends provide support. Considering that the price is already moving under the 3/8 level, it may continue falling. The closest target for sellers is at the 0/8 level; after reaching it, the market may start an ascending correction.

EURUSD


GBPJPY, “Great Britain Pound vs Japanese Yen”

The pair hasn’t been able to stay below the 4/8 level and right now is being corrected. The closest target for bulls is at the 6/8 level and the daily Super Trend. After the price is able to stay above the H4 Super Trend, the market will resume its growth.

GBPJPY

At the H1 chart, the pair has rebounded from the 0/8 level. If later Super Trends form “bullish cross”, I’m planning to open another buy order with the target at the 3/8 level.

GBPJPY

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