Analysis for April 18th, 2014
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is moving below H4 Super Trend, which means that current correction may yet continue. Possibly, in the nearest future price may test the 4/8 level. If market breaks this level, it may continue falling down.
As we can see at H1 chart, Super Trends formed “bearish cross”; price is supported by the 2/8 level, from which it rebounded earlier. Most likely, in the nearest future pair will fall down towards the 0/8 level, where I placed Take Profit on my sell order.
EUR GBP, “Euro vs Great Britain Pound”
It’s quite interesting that the lines at H4 chart of EUR GBP are the same as the lines at H4 chart of AUD USD. Earlier pair rebounded from the 4/8 level and started new descending movement. Target for the next several hours is at the 0/8 level.
At H1 chart, price is trying to stay below the 3/8 level. If it succeeds, pair will continue falling down towards the 0/8 level. If later market rebounds from it, pair may start more serious correction.
XAG USD, “Silver vs US Dollar”
After rebounding from the 4/8 level and daily Super Trend, Silver started falling down again. Most likely, market will continue moving downwards after completing local correction. Target for the next several days is at the 0/8 level.
Instrument is moving in the middle of H1 chart. If later Silver is able to stay below the 3/8 level, price will continue falling down and may reach the 0/8 one in the nearest future.
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