Analysis for October 13th, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair reached the 4/8
level. If the price rebounds from this level, it may start a new local ascending correction. The closest target for bulls is at the 5/8
level and the H4 Super Trend. If later the market rebounds from these levels as well, it may resume its descending movement.
At the H1 chart, the pair reached the 0/8
level and right now is trying to rebound from it, which means that the price may start a new ascending correction. If later the market rebounds from the 2/8
level, it may reach a new local and the -2/8
NZD USD, “New Zealand Dollar vs US Dollar”
The NZD/USD pair is moving inside the “oversold zone” under the 0/8
level. Earlier, Super Trends formed “bearish cross”. Consequently, in the nearest future the market may be corrected, but later the price is expected to test the -2/8
At the H1 chart, the pair may start a new local correction with the target at 0/8
. If later the price rebounds from this level, it may start a new decline. After the market breaks the -2/8
level, the lines at the chart will be redrawn.
RoboForex Analytical Department