Analysis for November 8th, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair couldn’t stay above the 6/8
level, but then managed to fix below the H4 Super Trend. Consequently, in the nearest future the market may complete the local correction and then continue falling towards the 4/8
As we can see at the H1 chart, Super Trends formed “bearish cross”. During the day, the price may test the 7/8
level. If the pair rebounds from this level, the market may resume falling to reach the 4/8
AUD USD, “Australian Dollar vs US Dollar”
In case of the AUD/USD pair, the situation is quite interesting, because it rebounded from the +1/8
level twice. If the price is able to stay under the 8/8
level, it may start falling. In this case, the first target for bears will be at the 7/8
At the H1 chart, the pair is moving between the 5/8
levels. As a result, in the nearest future the market may test the 3/8
level. If this level is broken, the price may continue falling much deeper.
RoboForex Analytical Department
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