Analysis for January 28th, 2016
EUR USD, “Euro vs US Dollar”
The pair is moving above Super Trends. Earlier, Eurodollar rebounded from the 1/8 level several times, and, as a result, resumed growing. The closest target is at the 4/8 level. If the market breaks this level and stays above it, the market may continue growing much higher.
At the H1 chart, Super Trends have formed “bullish cross”. If later the price is able to stay above the 5/8 level, it may continue growing towards the 8/8 one.
GBP JPY, “Great Britain Pound vs Japanese Yen”
The pair was supported by the 2/8 level and rebounded from it several times. The closest target is at the 3/8 level. If Super trends form “bullish cross”, the price may reach the above-mentioned target.
At the H1 chart, the pair is moving in the middle. It’s highly likely that on Thursday the price may try to break the 5/8 level and stay above it. If it happens, the market may continue growing.
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Happy Apple day
Apple is due to report Q1 results today after the bell. Expectations are soft given that Apple’s Chinese business got a major hit in Q1 as competitors increased their market share against the giant Apple.