Analysis for September 16th, 2014
EUR USD, “Euro vs US Dollar”
Eurodollar is still consolidating. The price hasn’t been able to stay above the 0/8 level and is returning to “oversold zone”. If the market is able to stay below the H4 Super Trend during the day, the pair will resume its movement towards the -2/8 level.
At the H1 chart, the price is moving in the middle. If later the price is able to break the 3/8 level and stay below it, the pair may continue falling towards the 0/8 one.
XAG USD, “Silver vs US Dollar”
Silver is still moving inside “oversold zone”. Possibly, the price may rebound from the 0/8 level and the H4 Super Trend, which earlier provided support several times. In this case, the market will continue moving to reach the -2/8 level.
At the H1 chart, the price is also moving inside “oversold zone”. The market is “stuck: between Super Trends: if it breaks them downwards and stay below them, the price may start a new descending movement. If later Silver breaks the -2/8 level, the lines at the chart will be redrawn.
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