Analysis for April 8th, 2015
EURUSD, “Euro vs US Dollar”
After several rebounds from the 6/8 level, the downtrend has resumed. Probably, the price may break the daily Super Trend. Later the lines may form “bearish cross”.
As we can see at the H1 chart, the pair is trying to stay below the 3/8 level. Earlier, Super Trends formed “bearish cross”. Later the pair may break the 0/8 level and then continue falling inside “oversold zone”.
AUDUSD, “Australian Dollar vs US Dollar”
Australian Dollar has rebounded from the daily Super Trend and the 2/8 level, which means that the market may resume the downtrend very soon and break the previous low. In this case, the target will be at the -2/8 level.
The lines at the H1 chart have been redrawn. If later the market is able to stay below the 2/8 level, I’m planning to open one more sell order. The closest target is at the -2/8 level; after the pair breaks it, the lines at the chart will be redrawn again.
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