Analysis for January 22nd, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is supported by Super Trends and moving inside “oversold zone” below them. In the near term, the price may reach the -2/8 level, which may become the starting point of a more serious pullback upwards.
As we can see at the H1 chart, the pair has been able to stay below the 3/8 level, from which it rebounded earlier. In addition to that, bears are supported by Super Trends: if the market is able to stay below them, the pair will resume falling.
NZD USD, “New Zealand Dollar vs US Dollar”
New Zealand Dollar has started a fast descending movement. Earlier Super Trends formed “bearish cross”. Possibly, the price may be able to stay below the 3/8 level during the day, thus allowing bears to push the market deeper.
The lines at the H4 and H1 charts are completely the same. Possibly, the pair may break its local minimum during the day. I’m planning to open one more sell order when the pair rebounds from Super Trends.
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