Analysis for December 6th, 2016
EUR USD, “Euro vs US Dollar”
Yesterday, the EUR/USD pair broke the daily Super Trend and the
0/8 level with a strong move. In the nearest future, the market may start a new correction. To confirm this scenario, the price has to fix below the
0/8 level. If it happens, the pair may start a short-term decline towards Super Trends.
At the H1 chart, Super Trends formed “bullish cross”. On Tuesday, the pair may reach a new local high and test the
+2/8 level. Later, the price may start a new correction and break the
8/8 level.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair rebounded from the daily Super Trend once again, which means that it may resume falling. To confirm this scenario, the price has to fix below the
2/8 level. In this case, the next target for bears will be at the
0/8 level.
At the H1 chart, the pair rebounded from the
7/8 level and then broke the H1 Super Trend. If later the price breaks the
3/8 level and stays below it, the market may continue falling towards the
0/8 one.
RoboForex Analytical Department