Analysis for April 5th, 2016
EUR USD, “Euro vs US Dollar”
The market is moving close to the H4 Super Trend. If later the pair breaks it, the price will continue falling towards the daily Super Trend and the 4/8 level. At the same time, if Eurodollar rebounds from the current levels upwards, it will continue growing.
At the H1 chart, the pair has rebounded from the 3/8 level several times. Consequently, if during the day the price breaks the 2/8 level and stays below it, the market will continue falling towards the 0/8 one.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar has rebounded from the 7/8 level, which means that it may start a new descending correction. Right now, the pair is trying to stay under the daily Super Trend. If bears succeed in it, the market will fall towards the 4/8 level.
As we can see at the H1 chart, Super Trends have formed “bearish cross”. The pair is trying to stay below the 3/8 level. If it succeeds, the market will continue falling towards the 0/8 one.
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