Analysis for April 14th, 2016
EURUSD, “Euro vs US Dollar”
Eurodollar has finally broken the consolidation range, where it has been for more than two weeks, and right now is moving under the daily Super Trend. If the price is able to stay below it, the market will continue falling and reach the 3/8 level.
At the H1 chart, Super Trends have formed “bearish cross”. If the price fails to stay under the 1/8 level, the pair will start a new ascending correction, which may later face resistance from the 2/8 level and the H4 Super Trend.
GBPUSD, “Great Britain Pound vs US Dollar”
After rebounding from the 7/8 level, Pound has resumed its decline. Right now, the pair is already moving under Super Trends, which may form “bearish cross” in the nearest future. If the price stays below the 3/8 level, it may continue falling towards the 0/8 one.
The lines at the H4 and H1 charts are completely the same. Yesterday, Super Trends formed “bearish cross”. During the day, the pair may be corrected towards the 4/8 level. If the price rebounds from this level, the market may resume its decline.
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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.