Analysis for October 23rd, 2013
AUD/USD
Australian Dollar has almost reached its main target at the 8/8 level; the pair was just several pips shy. That’s why I usually place Take profit not at the exact level, but close to it. All six Take Profits worked and the price started a new correction.
At the H1 chart, the pair rebounded from the 8/8 level. After a short pause, the correction may yet continue. If the price is able to stay below the 6/8 level, the market will continue falling down towards the 4/8 one.
GBP/CHF
The pair continues moving downwards; it has already broke the minimum. The stops on my sell orders are already in the black. The target is still at the 0/8 level. If later the price rebounds from it, the market may start a deeper correction.
At the H1 chart, after rebounding from the 5/8 level and the Super Trend, the price started a new descending movement. Right now, the pair is being corrected, but in the nearest future it may reach the main target at the 0/8 level.
SILVER
Silver started a fast ascending movement; the Super Trends formed “bullish cross” on Tuesday. During a local correction, I opened a short-term buy order with the target at the 8/8 level.
The lines at the H4 and H1 charts are completely the same. The price is moving between the Super Trends. If later the price is able to stay above the H1 Super Trend, I’ll increase my long positions.
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