Analysis for December 17th, 2015
EURUSD, “Euro vs US Dollar”
Eurodollar has reached the daily Super Trend. If the price breaks it, the market will continue falling towards the 0/8 level. If later this level is broken as well, the pair will continue moving downwards inside “oversold zone”.
At the H1 chart, earlier Super Trends formed “bearish cross” and the price was able to stay under the 3/8 level. The closest target is still at the 0/8 level; the market may reach it on Thursday.
USDCAD, “US Dollar vs Canadian Dollar”
After rebounding from the H4 Super Trend and the 8/8 level, Canadian Dollar has resumed its growth. The closest target for bulls is at the +2/8 level. In case this level is broken, the lines at the chart will be redrawn.
At the H1 chart, the price is also moving at the top; Super Trends provide support. The short-term target for bulls is at the 8/8 level. In case the market breaks this level and stays above it, the pair will continue moving upwards.
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