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
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
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
RoboForex Analytical Department
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