Analysis for July 9th, 2014
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is still being corrected and trying to find support at the 2/8 level; main target is still at the 0/8 one. If later price breaks Super Trends downwards again, I’ll increase my short position.
Pair is moving in the middle of H1 chart. If later pair breaks Super Trends and the 3/8 level downwards, price will continue falling down towards the 0/8 one.
EUR GBP, “Euro vs Great Britain Pound”
Price is still being corrected between Super Trends. Possibly, during the day bears may try to break the 0/8 level downwards. If they succeed, instrument will continue falling down towards the -2/8 level.
As we can see at H1 chart, bears were supported by the 1/8 level, from which price rebounded several times. In the near term, instrument is expected to break the -2/8 level. In this case, lines at the chart will be redrawn.
XAG USD, “Silver vs US Dollar”
Silver is still consolidating and supported by Super Trends; main target is at the 8/8 level. After reaching it, instrument may start more serious correction.
As we can see at H1 chart, Silver rebounded from the 6/8 level three times, which means that bulls may start new ascending movement. Possibly, in the nearest future Super Trends may form “bullish cross” and instrument will continue growing up to break the +2/8 level.
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