Analysis for January 6th, 2017
EUR USD, “Euro vs US Dollar”
After rebounding from the
5/8 level four times, the EUR/USD pair started an ascending correction and, as a result, Super Trends formed “bullish cross”. Possibly, after finishing the local correction, the price may test the
7/8 level again. If the pair rebounds from this level, the market may try to resume its decline.
As we can see at the H1 chart, the pair couldn’t break the
8/8 level on the first try and right now is being corrected between Super Trends. Consequently, in the nearest future the market may continue falling towards the
5/8 level. If later the price rebounds from this level, it may try to resume its growth.
GBP JPY, “Great Britain Pound vs Japanese Yen”
The GBP/JPY pair is attempting to fix below the
4/8 level and Super Trends. Earlier, the price rebounded from the
5/8 level. As a result, in the nearest future the market may continue moving downwards to reach the
2/8 level.
At the H1 chart, Super Trends formed “bearish cross”. In the nearest future, the market may fall towards the
0/8 level. To confirm this scenario, the price has to fix below the
3/8 level.
RoboForex Analytical Department