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 level.
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 level.
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