Analysis for December 14th, 2015
EURUSD, “Euro vs US Dollar”
At the end of the last week, Eurodollar tried to break the 2/8 level once again, but wasn’t able to stay above it and right now is already moving below the H4 Super Trend. On Monday, the market may fall towards the 1/8 level. If the price breaks it, the pair may continue moving downwards to reach the 0/8 one.
The lines at the H4 and H1 charts are completely the same. It’s highly likely that the Super Trend may form “bearish cross” in the nearest future. I’m planning to move the stop loss on my current sell order to breakeven as soon as the price breaks the local low.
USDCAD, “US Dollar vs Canadian Dollar”
Canadian Dollar has been able to stay above the 8/8 level inside “overbought zone”. The current growth is supported by the H4 Super Trend. In the future, the market may continue growing towards the +2/8 level.
At the H1 chart, the price is moving at the top; Super Trends provide support. During the day, the pair may break the +2/8 level. In this case, the lines at the chart will be redrawn.
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