Analysis for October 9th, 2015
EURUSD, “Euro vs US Dollar”
After reaching a new local high, Eurodollar is moving near the 6/8 level. Considering that the current growth started after the price rebounded from the 2/8 level, the resistance from the 6/8 one indicates that the market may resume moving downwards.
At the H1 chart, the pair may be supported by the 8/8 level. If later the price is able to break Super trends and stay below them, I’m planning to increase my short position.
USDCHF, “US Dollar vs Swiss Franc”
Franc may yet resume its growth. At the same time, I’m holding only one pending buy order because the current correction may continue. I’m planning to open additional buy orders after the price stays above the 6/8 level.
At the H1 chart, the pair is testing the -2/8 level. If the price breaks it, the lines at the chart will be redrawn. Consequently, we may be more sure that the price may start another ascending movement only after Super Trends form “bullish cross.
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