Analysis for March 4th, 2014
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is still moving close to the 6/8 level. If price rebounds from it, pair will start new ascending movement. I’ll increase my long position as soon as pair breaks Super Trends upwards.
At H1 chart, price rebounded from the -1/8 level and left “oversold zone”. Considering that Super Trends are still influenced by “bearish cross”, I’m trading very carefully. The first target for bulls is at the 5/8 level: if they break it, price will continue moving upwards.
CAD CHF, “Canadian Dollar vs Swiss Franc”
Pair is still being corrected; bears are supported by H4 Super Trend. Price is already moving below the 3/8 level, so the next target for bears is at the 0/8 one.
Pair is moving in the middle of H1 chart. If later price is able to stay below the 4/8 level, I’ll increase my long position. Later, after reaching the 0/8 level, pair may start new correction.
XAG USD, “Silver vs US Dollar”
Silver is still being corrected, that’s why I’m staying out of the market. I’ve got only a pending by order, placed near local maximum. Probably, pair may test the 6/8 level. If price rebounds from it, bulls will return to the market.
At H1 chart, price rebounded from the 7/8 level. “Bullish cross”, formed by Super Trends, was broken by bears. Possibly, current correction may be stopped by the 4/8 level and price rebounds from it.
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