Analysis for December 18th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is moving close to the daily Super Trend. If the price breaks it, the market will continue falling towards the 0/8 level. If later Super Trends form “bearish cross”, I’m planning to open another sell order.
As we can see at the H1 chart, Eurodollar hasn’t been able to break the 1/8 level, but the fact that Super Trends provide support indicates that the pair may continue falling. This is why the closest target is still at the 0/8 level.
USD CAD, “US Dollar vs Canadian Dollar”
The lines at the H4 chart have been redrawn; Canadian Dollar continues moving upwards. During the correction, I opened an additional buy order. In the nearest future, the market is expected to continue growing towards the 8/8 level.
As we can see at the H1 chart, the price has started a new local correction from the +1/8 level and right now is trying to rebounds from the 8/8 one. In general, such situation implies that the market may continue moving upwards, that’s why I’m holding my buy orders.
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