Analysis for July 30th, 2014
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is moving between Super Trends trying to stay below daily indicator. Presumably, in a few hours “bearish cross” will be formed. The target is still the 0/8 level with take profit on sell order.
At H1 chart, price stays below the 3/8 level. Super Trend is the resistance level. Consequently, price may break the 0/8 level and continue its descending movement inside “oversold zone”.
EUR GBP, “Euro vs Great Britain Pound”
Pair rebounded from daily Super Trend and the 4/8 level indicating the new descending movement. If price breaks the 3/8 level towards the 0/8 level, it will indicate the return of bears.
At H1 chart, Super Trends formed “bearish cross”. Presumably, it is a pattern 8/8-4/8-7/8-0/8. If price stays below the 5/8 level, it will be the first signal that bears will try to reach the 0/8 level.
XAG USD, “Silver vs US Dollar”
Super Trends are still influenced by “bearish cross”. There was double rebound from the 5/8 level and price is trying to stay below Super Trends. I closed short position and opened long position with stop loss at local minimums.
At H1 chart, in a few hours Super Trends may form “bearish cross”. Probably, price will break the 0/8 level and continue descending movement inside “oversold zone”.
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