Analysis for December 8th, 2015
EURUSD, “Euro vs US Dollar”
After rebounding from the 2/8, Eurodollar has started a new correction. If later the price is supported by the 0/8 level and rebounds from it, it may resume moving upwards. In case the market stays above the 2/8 level, it may continue growing much higher.
At the H1 chart, Eurodollar is moving towards the 4/8 level. If the price rebounds from it, the ascending correction may continue. However, if the pair breaks the 4/8 level and stays below it, the market will continue falling.
USDCAD, “US Dollar vs Canadian Dollar”
Canadian Dollar continues growing inside “overbought zone”. Earlier, the price was supported by the 6/8 level and rebounded from it several times. It’s highly likely that in the nearest future the market may break +2/8 level. In this case, the lines at the chart will be redrawn.
At the H1 chart, the market is trying to break the 7/8 level. If later the price is able to stay above this level in the nearest future, the pair may start a new descending correction towards the 4/8 level.
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