Analysis for April 17th, 2014
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is still moving between Super Trends. If later price breaks the 5/8 level upwards, it may continue growing up towards the 6/8 one.
As we can see at H1 chart, pair rebounded from the 2/8 level. Considering that pair started current correction after rebounding from the 6/8 level, right now it is expected to start new ascending movement. I’ll increase my long position as soon as market breaks the 4/8 level upwards.
EUR GBP, “Euro vs Great Britain Pound”
Just as we expected, pair started new descending movement and broke minimum. During local correction, I opened another sell order. Closest target for bears is at the 0/8 level.
At H1 chart, price is trying to stay below the 3/8 level. If it succeeds, pair will continue falling down towards the 0/8 level. If later market breaks this level, pair may start more serious correction.
XAG USD, “Silver vs US Dollar”
After rebounding from the 4/8 level and daily Super Trend, Silver started falling down again. Most likely, market will continue moving downwards after completing local correction. Target for the next several days is at the 0/8 level.
Instrument is moving in the middle of H1 chart. If later Silver is able to stay below the 3/8 level, price will continue falling down and may reach the 0/8 one in the nearest future.
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