Analysis for April 27th, 2016
EURUSD, “Euro vs US Dollar”
In case of Eurodollar, the correction has become deeper, but Super Trends are still influenced by “bearish cross”. In the nearest future, the market may test the 6/8 level. If the pair rebounds from this level downwards, it will resume its decline.
At the H1 chart, Super Trends have already formed “bullish cross”. On Wednesday, the pair may test the 4/8 level. If the price rebounds from it and later stays under Super Trends, the market may resume its descending movement.
GBPJPY, “Great Britain Pound vs Japanese Yen”
The price is attempting to enter the “overbought zone” and stay above the 8/8 level. The current growth is supported by Super Trends. It’s highly likely that in the nearest future, the market may continue growing towards the +2/8 level.
The lines at the H4 and H1 charts are completely the same. In the nearest future, if the market rebounds from the +1/8 level, it may start a new correction towards the 8/8 one. If later this level provides support, the pair may resume moving upwards.
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