Analysis for July 6th, 2015
EUR USD, “Euro vs US Dollar”
Just like a week ago, the market was opened with a gap down. The pair is still supported by Super Trends. Considering that Eurodollar is already moving below the 3/8 level, in the future it may continue falling towards the 0/8 one.
As we can see at the H1 chart, the price has been supported by the 3/8 level. I’m planning to open another sell order as soon as the price is able to stay below the H1 Super Trend. The closest target is at the -2/8 level. If the market breaks it, the lines at the chart will be redrawn.
GBP USD, “Great Britain Pound vs US Dollar”
Pound has been supported by the 4/8 level; the price has rebounded from this level several times. Earlier Super Trends formed “bearish cross”. In the nearest future, the market is expected to continue falling towards the 2/8 level.
At the H1 chart, the pair is moving inside “oversold zone”; bears are supported by Super Trends, which are influenced by “bearish cross”. Probably, the price may reach a new local low during the day.
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