Analysis for March 30th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar is again moving inside the “overbought zone”, between the +1/8 and +2/8 levels. If later the price breaks the +1/8 level and stays below it, the price may resume falling towards the 8/8 one.
At the H1 chart, the price hasn’t been able to stay above the 7/8 level, which means that it may resume moving downwards. The first target for bears will be at the 5/8 level. If they break it, the market will continue falling much deeper.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar has rebounded fast from the 7/8 level, which is a strong bearish signal. The closest target is at the 6/8 level. If the price breaks this level and stays below it, the market will move to break last week’s low.
As we can see at the H1 chart, the pair has rebounded from the 8/8 level. If in the nearest future the pair breaks the 6/8 level together with Super Trends and stays below them the market will fall to reach the 4/8 one.
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