Analysis for December 15th, 2014
EUR USD, “Euro vs US Dollar”
Eurodollar is testing the daily Super Trend and the 4/8 level one more time. If the price rebounds from them again, the market may resume moving downwards. The local target is at the 2/8 level.
The market is moving at the top of the H1 chart and trying to rebound from the 8/8 level. If the pair is able to stay below Super Trends and they form “bearish cross”, sellers will return to the market.
USDCAD, “US Dollar vs Canadian Dollar”
Last week, Canadian Dollar successfully managed to stay above the 5/8 level. The price is supported by Super Trends, which earlier formed “bullish cross”. The main target is at the 8/8 level, however, if the pair rebounds from the 7/8 level fast, the market may start a new correction earlier.
The pair is consolidating at the top of the H1 chart. Considering that bulls were supported by the 6/8 level, the price is expected to resume the uptrend and break the 8/8 one. If the pair is able to stay above the latter level, the price may continue growing towards the +2/8 one.
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