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
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