Analysis for May 31st, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar is being corrected. If in the nearest future the price breaks the H4 Super Trend downwards, it may resume falling. In this case, the closest target will be at the 2/8
At the H1 chart, yesterday Eurodollar rebounded from the 3/8
level, thus stopping the bullish correction. At the moment, the price is attempting to stay under Super Trends, which earlier formed “bullish cross”. Consequently, if later the pair forms “bearish cross”, the market will start another descending movement.
AUD USD, “Australian Dollar vs US Dollar”
In case of Australian Dollar, the current correction faced resistance from the daily Super Trend. If in the nearest future the price rebounds from it, the pair will resume moving downwards and reach the target at the 2/8
At the H1 chart, the pair hasn’t been able to break the 7/8
levels, which means that bears may return to the market. Now the pair has to stay under Super Trends. If case it succeeds, the current ascending correction may finish.
RoboForex Analytical Department
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