Analysis for April 21st, 2014
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is still moving between Super Trends. Earlier price rebounded from the 7/8 level. Right now, instrument is moving below the 5/8 level and may continue falling down towards the 4/8 one in the nearest future.
As we can see at H1 chart, market is moving inside “oversold zone”. Possibly, pair may try to test the 0/8 level once again. If pair rebounds from it, price will break the -2/8 level and the lines at the chart will be redrawn.
EUR GBP, “Euro vs Great Britain Pound”
Pair is still consolidating; bears are supported by H4 Super Trend. Possibly, price may try to test it once again on Monday. Later pair may start new descending movement towards the 0/8 level.
At H1 chart, price is trying to stay below the 3/8 level. Earlier pair rebounded from the 4/8 level. In the near term, current correction may yet continue, but later price is expected to continue falling down towards the 0/8 level.
XAG USD, “Silver vs US Dollar”
Silver is starting new descending movement; during market opening, price formed strong bearish candlestick and I decided to move stop on my sell order into the black. After completing local correction, instrument may continue moving downwards to reach the 0/8 level.
At H1 chart, Silver is trying to stay below the 3/8 level. Earlier, price rebounded from H4 Super Trend several times. Possibly, instrument may reach new local minimum on Monday.
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