Analysis for September 30th, 2014
EUR USD, “Euro vs US Dollar”
After rebounding from the H4 Super Trend, Euro is trying to stay below the 0/8 level. In the near term, the price is expected to continue falling inside “oversold zone” towards the -2/8 level.
As we can see at the H1 chart, after a short consolidation between Super trends, the market is starting a new descending movement. Possibly, the pair may break the -2/8 level during the day. In this case, the lines at the chart will be redrawn.
XAG USD, “Silver vs US Dollar”
Silver is still consolidating; bears are supported by the H4 Super Trend. I’m planning to close my position partially when the price reaches the 0/8 level and the rest of it when the market reaches the -1/8 one.
At the H1 chart, Silver is consolidating. Considering that the price is supported by Super Trends and the 2/8 level, it’s quite logical to expect the downtrend to resume. The main target is at the -2/8 level.
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