Analysis for January 29th, 2015
EURUSD, “Euro vs US Dollar”
At the H4 chart, Eurodollar is still being corrected between Super Trends. Possibly, after completing this local correction, the price may try to stay below the 2/8 level. This attempt may indicate that the market is going to resume falling towards the 0/8 one.
At the H1 chart, the price is moving right in the middle. Probably, in the nearest future the price may break the 4/8 level and resume moving downwards. I’m planning to open one more sell order after the market stays below Super Trends.
NZDUSD, “New Zealand Dollar vs US Dollar”
New Zealand Dollar has started a new correction. Earlier Super Trends formed “bearish cross”. Considering that the market has broken the 0/8 level, later it is expected to continue falling to reach the -2/8 one.
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 another sell order if the pair rebounds from the H1 Super Trend again.
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