Analysis for February 22nd, 2016
EUR USD, “Euro vs US Dollar”
The Eurodollar is still trying to stay below the daily SuperTrend and the murray mark 3/8
. If the market really will be able to gain a foothold under these levels, it will be possible for a further fall towards the 2/8
On the hourly chart support for decline comes from the SuperTrend lines. Since the market is trading confidently below the level 2/8
, then a further decline to around 0/8
is likely. In the event of a rebound from this line it will be possible for an upward correction to start.
USD CHF , “US Dollar to Swiss franc”
SuperTrend lines have formed a "bullish cross" on the four-hour franc chart. The immediate goal for buyers is the 4/8
mark, the breakthrough of which will signal the further movement of the market upwards. With subsequent fixing of the price above 5/8
, the target will be the level of 8/8
The building of levels on both charts are identical. The SuperTrend lines, previously forming the "bullish cross", are located in the "green zone". It is very likely that during Monday the price will go to a maximum of the last week.
RoboForex Analytical Department
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