Analysis for August 3rd, 2015
EUR USD, “Euro vs US Dollar”
Last week, Eurodollar rebounded twice from the 3/8 level, thus indicating that the price may resume falling. It’s very likely that Super Trends will form “bearish cross” on Monday. Later, the market may break the 0/8 level and continue falling inside “oversold zone”.
At the H1 chart, the price is moving in the middle. If the price is able to stay below the 3/8 level in the nearest future, may resume falling. In this case, the target will be at the 0/8 level, which may later be broken as well.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is trying to stay inside “oversold zone”, under the H4 Super Trend. I’m holding several sell orders, with the stop loss in the black. Later, the pair may break the current minimum and the -2/8 level. In this case, the lines at the chart will be redrawn.
As we can see at the H1 chart, the price has broken the 3/8 level, which means that it may continue falling towards the 0/8 one. Earlier, Super Trends formed “bearish cross”. I’m planning to move stop losses on my current orders to the local high as soon as the price breaks the minimum.
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