Analysis for February 23rd, 2016
EUR USD, “Euro vs US Dollar”
On the four-hour chart, the SuperTrend lines formed a "bearish cross". Since the market was able to gain a foothold below
3/8, now the target for sellers is the level of
0/8. In the short term a further decline in the currency pair is likely.
On the hourly chart, the market is trading in the lower part of the build-up of levels. The SuperTrend lines show support to the decline. If the price is able to break the mark
0/8, then the target will be the level of
-2/8.
USD CHF , “US Dollar to Swiss franc”
The SuperTrend lines have formed a "bullish cross" on the four-hour franc chart. If the market breaks through the mark
4/8, it will indicate the possibility of a further movement of the market up. Subsequent fixing of the price above
5/8, the target will be the level
8/8.
The building of levels on both charts are identical. The price is trying to push up from the
3/8 mark and the SuperTrend lines. It is very likely that during Tuesday, price growth will resume and move to a local maximum.
RoboForex Analytical Department