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 level.
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 one.
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 level.
At the H1 chart, the pair is moving between the
5/8 and
3/8 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