Analysis for March 16th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is trying to stay below the 3/8 level and allow bears to continue pushing the price towards the 0/8one. The pair is supported by Super Trends. Possibly, in the nearest future the price may reach a new low.
At the H1 chart, last Friday Super Trends formed “bearish cross”. Considering that earlier the price had been able to stay below the 3/8 level. The next target will be at the 0/8 one. I’ve opened an additional sell order during a local correction.
USD CAD, “US Dollar vs Canadian Dollar”
At the H4 chart, Canadian Dollar has broken the 5/8 level and stayed above it. Probably, after finishing a local correction, the pair may continue growing towards the 8/8 level. After reaching it, the market may start a deeper pullback downwards.
The lines at the H4 and H1 charts are completely the same. Bulls are supported by Super Trends. I’m planning to move my stop losses under a local low as soon as the price breaks the maximum.
RoboForex Analytical Department
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
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