Analysis for May 9th, 2016
EUR USD, “Euro vs US Dollar”
At the daily chart, Eurodollar has rebounded from the 7/8
level very fast, which means that it may start a new correction. At the moment, the market is moving close to the daily Super Trend. If the price breaks it, the pair may continue falling much deeper to reach the 4/8
As we can see at the H4 chart, the pair is still moving between Super Trends, which may form “bearish cross” at the beginning of the week. Consequently, if the price is able to stay under the 2/8
level, it may continue moving downwards.
USD CAD, “US Dollar vs Canadian Dollar”
Canadian Dollar rebounded from the -1/8
level and later managed to stay above the daily Super Trend. The closest target for bulls is at the 2/8
level – if they break this level, the pair may start a longer ascending correction.
At the H4 chart, Super Trends have already formed “bullish cross”. If on Monday the price breaks the 2/8
level and stays above it, Canadian Dollar will continue growing towards the 4/8
RoboForex Analytical Department
Without authorization, you can view no more than two reviews per day and no more than 10 per month. To continue reading analytical reviews, register or login to your Members Area.