Analysis for July 20th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar continues falling steadily; bears are supported by Super Trends. Most likely, in the nearest future the market will reach the 0/8 level. If the price rebounds from it, the market may start a new ascending correction.
At the H1 chart, the price is also moving in the middle. Earlier, the price was able to stay below the 3/8 level and continued falling. The closest target is at the 0/8 level.
USD CAD, “US Dollar vs Canadian Dollar”
Canadian Dollar is trying to rebound from the H4 Super Trend. Probably, the pair may reach a new high during Monday. Later, the market is expected to reach the 8/8 level.
At the H1 chart, the price is moving in the middle. If the price is able to stay above the 5/8 level, it may resume moving upwards. The target for the next several days is at the 8/8 level; after reaching it, the pair may start a descending correction.
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