Analysis for July 29th, 2014
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar rebounded from the 6/8 level and now is moving between Super Trends. Considering its previous rebound from the 2/8 level, we expect the price falling down. If price stays below the 3/8 level, it will confirm the further descending movement with the target at the 0/8 level.
At H1 chart, price is consolidating in the middle of the chart. Super Trends are still under the influence of “Dead Cross”. When price breaks the 3/8 level, bears will try to reach new minimums.
EUR GBP, “Euro vs Great Britain Pound”
Pair rebounded from daily Super Trend and the 4/8 level indicating the new descending movement. Bears still try to reach the 0/8 level. If price breaks the 3/8 level and stays below this level, it will confirm the further descending movement.
At H1 chart, pair broke the 6/8 level, but was not able to stay above it. In the near term, price may reach the 2/8 level and break it moving towards lower minimums.
XAG USD, “Silver vs US Dollar”
Silver rebounded from the 4/8 level and is trying to resume its ascending movement. However, at present price is moving between Super Trends that are still influenced by “bearish cross” creating the additional risk for long positions.
At H1 chart, Super Trends formed “bullish cross”. Probably, during Tuesday price may stay above the 5/8 level clearing the way to the upper target of the 8/8 level.
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