Analysis for October 21st, 2015
EURUSD, “Euro vs US Dollar”
Eurodollar is still being corrected. If later the price is able to stay below the H4 Super Trend and the 6/8 level, I’m planning to increase my short position. The closest target is at the 4/8 level.
At the H1 chart, the price is moving in the middle. Possibly, the pair may try to test the 5/8 level during the day. If the market rebounds from this level, it may resume falling and reach a new local low.
AUDUSD, “Australian Dollar vs US Dollar”
In case of Australian Dollar, Super Trends have formed “bearish cross”. Earlier, the pair rebounded from the 8/8 level twice. If later the price breaks the daily Super Trend, the market will continue falling towards the 4/8 level.
At the H1 chart, the price is moving in the middle. It’s highly likely that the market may break the 4/8 level in the nearest future and then continue falling. I’m planning to open another sell order during the next correction.
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