Analysis for September 1st, 2014
EUR USD, “Euro vs US Dollar”
Since Euro rebounded from the -1/8 level, there is a possibility that the price may start a local correction towards the 0/8 one. At the same time, if the market is unable to break the H4 Super Trend, this correction may not be too deep. The main target for the next several days is at the -2/8 level.
As we can see at the H1 chart, the current correction started from the 2/8 level, which means that later the market may start falling again. Possibly, the price may be supported by Super Trends and the 3/8 level: I’m planning to increase my short position when the pair rebounds from them.
XAG USD, “Silver vs US Dollar”
In the end of the last week, Silver rebounded from the daily Super Trend fast. The price broke the 0/8 level and is trying to stay inside “oversold zone”. In the near term, the market is expected to continue falling towards the -2/8 level and break it.
As we can see at the H1 chart, the market is being corrected in the middle. If later the price is able to break the 3/8 level and stay below it, the market will continue falling towards the 0/8 one or even lower.
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