Analysis for July 16th, 2014
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar was able to stay below Super Trends, which are still influenced by “bullish cross”. If price breaks the 1/8 level, will continue falling down and may reach the 0/8 level during the next several days.
At H1 chart, price rebounded from the 0/8 level and started correction. Possibly, bears may be supported by either Super Trend, or the 2/8 level. Later they may try to break the 0/8 level once again and enter “oversold zone”.
EUR GBP, “Euro vs Great Britain Pound”
After false breakout of daily Super Trend, pair started falling down very fast. Considering that market is moving inside “oversold zone”, later it is expected to test the -2/8 level. If price breaks it, lines at the chart will be redrawn.
Pair is moving at the bottom of H1 chart. After rebounding from Super Trend, price reached new local low. Most likely, market will break the -2/8 level during Wednesday. In this case, lines at the chart will be redrawn.
XAG USD, “Silver vs US Dollar”
After rebounding from the 7/8 level, Silver started correction; Super Trends have already formed “bearish cross”. Closest target is at the 4/8 level, but if price breaks it, correction may continue towards the 3/8 one or even lower.
As we can see at H1 chart, bears are testing the 0/8 level. It looks like price may enter “oversold zone” during the day and continue falling down towards the -2/8 level. If later instrument breaks it, lines at the chart will be redrawn.
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