Analysis for July 8th, 2014
AUD USD, “Australian Dollar vs US Dollar”
After making fast descending movement, Australian Dollar is still consolidating. Super Trends are still influenced by “bearish cross” formed earlier. I’m planning to increase my short position right after pair breaks Super Trends downwards again.
Pair is moving in the middle of H1 chart. If price rebounds from the 4/8 level, market will start new descending movement. If later pair breaks the 3/8 level downwards, price will continue falling down towards the 0/8 one.
EUR GBP, “Euro vs Great Britain Pound”
Price left “oversold zone” and started new correction. Possibly, bulls may be supported by daily Super Trend, close to which I placed limit sell order.
As we can see at H1 chart, Super Trends formed “bullish cross”, which means that pair started new correction. Future scenario depends on how price will move at the 2/8 level. If it rebounds, market will start falling down again.
XAG USD, “Silver vs US Dollar”
Silver is still consolidating. Market will start growing up again towards the 8/8 level as soon as price breaks H4 Super Trends upwards. If later instrument rebounds from this level, price will start more serious correction.
As we can see at H1 chart, after rebounding from the 6/8 level for the second time, bulls are trying to start new ascending movement. If later instrument breaks Super Trends upwards, I’ll increase my long position.
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