Analysis for October 22nd, 2014
EUR USD, “Euro vs US Dollar”
Eurodollar has rebounded from the 1/8 level once again. Possibly, in the nearest future Super Trends may form “bearish cross”. Later, the price is expected to break the 0/8 level and then continue falling inside “oversold zone”.
At the H1 chart, the pair is also moving at the bottom. After completing a local correction, the price is expected to continue moving downwards. If the market breaks the -2/8 level, the lines at the chart will be redrawn.
XAG USD, “Silver vs US Dollar”
Yesterday Silver rebounded from the daily Super Trend one more time. If now the price is able to stay below the H4 Super Trend, the market will continue falling and break a local low.
As we can see at the H1 chart, the downtrend has been supported by the 4/8 level. Super Trends may form “bearish cross” during the next several hours. As soon as it happens, I’m planning to increase my short position.
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