Analysis for October 5th, 2016
EUR USD, “Euro vs US Dollar”
Yesterday, the EUR/USD pair couldn’t stay below the
2/8 level and, as a result, returned to the
4/8 level and Super Trends. If the price is able to fix above these levels, the market may move upwards a little bit to reach the
6/8 one.
At the H1 chart, the pair is moving inside the “overbought zone”. Yesterday, the price rebounded from the
5/8 level and moved upwards very fast. If the
8/8 level is broken during the day, the market will continue growing.
GBP JPY, “Great Britain Pound vs Japanese Yen”
The GBP/JPY pair is still consolidating. The
4/8 level and the H4 Super Trend provide resistance. If the price rebounds from them, the market may resume its decline and reach the
2/8 level.
At the H1 chart, the pair is being corrected near the
4/8 level. Super Trends are still influenced by “bearish cross”. Consequently, in the nearest future, the market may resume falling.
RoboForex Analytical Department