Analysis for January 19th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar is moving close to Super Trends. If it breaks them and stays below, the pair will continue falling. In this case, the target will be at the 0/8 level. It’s highly likely that the market may break this level, because earlier it rebounded from the 2/8 one.
At the H1 chart, Eurodollar is moving in the middle. If the price is able to stay below the 3/8 level and Super Trends form “bearish cross”, the pair will continue moving downwards.
GBP JPY, “Great Britain Pound vs Japanese Yen”
In case of the GBP JPY currency pair, the downtrend remains strong. The closest target for bears is at the 0/8 level. If the market rebounds from this level upwards, it may start a new correction. I’m planning to open another sell order as soon as the market breaks the H4 Super Trend downwards.
At the H1 chart, the price is trying to rebound from the 4/8 level. If bears succeed and the price breaks Super Trends downwards, the market will resume falling.
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