Analysis for March 30th, 2015
EUR USD, “Euro vs US Dollar”
The market has rebounded from the 6/8 level several times and been able to stay below the H4 Super Trend. Possibly, Super Trends may form “bearish cross” quite soon. During a local correction, I opened another sell order and plan to increase my position after the pair breaks the 4/8 level.
As we can see at the H1 chart, Super Trends have formed “bearish cross”. The closest target right now is at the 4/8 level; bears may break it and continue falling. I’m planning to move the stop loss on my current order to break even when the market breaks the minimum.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is still consolidating. Earlier the price rebounded from the 4/8 level and right now is moving below Super Trends, which are still influenced by “bearish cross”. If the market is able to stay below the 2/8 level, it may continue falling to break the 0/8 one.
The pair is moving in the middle of the H1 chart below the 4/8 level. If bears are able to break the 3/8 level and keep the price below it, the next target will be at the 0/8 one. I’m planning to open another sell order during a correction.
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