Analysis for March 2nd, 2015
EUR USD, “Euro vs US Dollar”
Euro is trying to continue its descending movement, which it started last week. The price has broken the
4/8 level, and if later bears are able to stay below the
3/8 level, the market may continue falling towards the
1/8 one.
As we can see at the H1 chart, after breaking the
0/8 level, the pair is trying to stay inside “oversold zone”. During a local correction last Friday, I opened an additional sell order. In the future, the price may break the
-2/8 level. In this case, the lines at the chart will be redrawn.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar has broken the
0/8 level and right now is moving inside “oversold zone”. Super Trends are still influenced by “bearish cross”. In the near term, the market may continue falling towards the
-2/8 level and even break it.
At the H1 chart, the pair is attempting to stay below the
3/8 level. If bears succeed, the price will continue falling towards the
0/8 level. During a correction, I’ve opened another sell order.
RoboForex Analytical Department