Analysis for May 13th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar resumed moving downwards and, as a result, Super Trends formed “bearish cross”. Considering that the price was able to break the
3/8 level, the closest target is now at the
1/8 one. If the pair breaks it, the market will continue falling to reach the
0/8 level.
At the H1 chart, the pair is trying to stay under the
0/8 level inside the “oversold zone”. Earlier, Super Trends formed “bearish cross”. During the day, the market may continue falling towards the
-2/8 level.
GBP USD, “Great Britain Pound vs US Dollar”
Pound has been able to stay under Super Trends. Considering that earlier the price rebounded from the
7/8 level, in the nearest future the market may continue falling towards the
5/8 one. If the pair breaks it, the downtrend will continue.
At the H1 chart, the pair is moving in the middle. Yesterday the price rebounded from the
6/8 level, which means that in the nearest future it may fall towards the
2/8 one.
RoboForex Analytical Department