Analysis for May 12th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is still moving between Super Trends. Possibly, the pair may test the
3/8 level during Tuesday. If the price breaks this level, the current correction may continue towards the
2/8 one.
As we can see at the H1 chart, the pair is trying to stay below the
3/8 level. Earlier, Super Trends formed “bearish cross”. If the price rebounds from the current levels, it will move towards the
0/8 one to test it.
EUR JPY, “Euro vs Japanese Yen”
The pair has rebounded from the
7/8 level and may start a correction. The closest target is at the daily Super Trend: if the price breaks it, it will continue falling much deeper. In this case, the target will be at the
4/8 level.
At the H1 chart, the pair is attempting to find support from the H1 Super Trend and the
4/8 level. Considering that earlier the price rebounded from the
6/8 level, the next target for bears is at the
2/8 one. I’m planning to move the stop loss on my current sell order to breakeven as soon as the market starts moving downwards.
RoboForex Analytical Department