Analysis for December 29th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is moving inside a narrow trading range. If later the price isn’t able to stay above the 2/8 level and breaks Super Trends downwards, it may resume falling. In this case, the first target for bears will be at the 0/8 level.
At the H1 chart, Eurodollar is moving at the top. I’m planning to open a sell order with the target at the 4/8 level if the pair isn’t able to stay above the 8/8 level and Super Trends form “bearish cross”.
USD CAD, “US Dollar vs Canadian Dollar”
In case of Canadian Dollar, the uptrend continues. The price is still moving above the daily Super Trend. I’m planning to increase my long position with the target at the 8/8 level as soon as the price stays above the 6/8 one.
As we can see at the H1 chart, Super Trends have formed “bullish cross”. Possibly, on Tuesday the pair may try to break the 4/8 level. If it happens and later the market stays above the 5/8 level, the next target for bulls will be at the 8/8 one.
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