Analysis for July 10th, 2014
AUD USD, “Australian Dollar vs US Dollar”
Correction has almost reached the 3/8 level when price started falling down very fast. If Australian Dollar is able to stay below Super Trends in the nearest future, pair will continue moving downwards to reach the 0/8 level.
Possibly, Super Trends may form “bearish cross” in the nearest future. After later pair breaks the 3/8 level downwards, price will continue falling down towards the 0/8 one. If later pair rebounds from it, market will start more serious correction.
EUR GBP, “Euro vs Great Britain Pound”
Price is still being corrected between Super Trends; bears are supported by them and the 1/8 level. If pair rebounds from current levels, bears will easily break the 0/8 level downwards.
As we can see at H1 chart, bears are trying to find support at the 2/8 level; price has almost reached this level, which means that market may start falling down quite soon. If later instrument breaks the -2/8 level, lines at the chart will be redrawn.
XAG USD, “Silver vs US Dollar”
Silver is still consolidating and supported by H4 Super Trend and the 6/8 level. If price rebounds from these levels, bulls will start new ascending movement towards the 8/8 one.
As we can see at H1 chart, Silver rebounded from the 6/8 level three times; later, Super Trends formed “bullish cross”. Possibly, in the nearest future instrument may break the +2/8 level. In this case, lines at the chart will be redrawn.
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