Analysis for April 29th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar has rebounded from the 7/8
level, which means that it may start a new correction. The first target for bears is the H4 Super Trend and the 6/8
level. If bears break these levels and keep the price below them, the market will continue falling towards the 5/8
At the H1 chart, bulls have faced resistance from the 6/8
level. Consequently, the short-term target right now is at the 4/8
level. If bears break this level and keep the price below it, the market will continue falling much deeper.
AUD USD, “Australian Dollar vs US Dollar”
After rebounding from the 4/8
level, Australian Dollar has started a new correction. Earlier, Super Trends formed “bearish cross”. If the price is able to break the 5/8
level and stay below it during the day, the market will resume moving downwards.
At the H1 chart, the pair has rebounded from the 3/8
level twice and from the H1 Super Trend as well. If the pair stays under the 1/8
level, it will move towards the closest target at the -2/8
RoboForex Analytical Department
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