Analysis for August 15th, 2014
EUR USD, “Euro vs US Dollar”
Euro is still consolidating below Super Trends; right now, the market is trying to stay below the 3/8 level. If bears succeed in doing it, the market may continue moving downwards to the 1/8 level, even break it and reach the 0/8 one.
As we can see at the H1 chart, Super Trends are still influenced by “bearish cross”. The closest target for bears is at the 1/8 level; they may reach it during the day. As soon as the price breaks the minimum, I’ll move my stop losses towards the daily Super Trend.
XAG USD, “Silver vs US Dollar”
Silver is trying to stay below the 3/8 level; bears are supported by Super Trends. I’ve got two sell orders and want to close them at the 1/8 level in order to avoid any risks: the current trend is quite strong and this level may become a starting point of a new correction.
At the H1 chart, Super Trends formed “bearish cross” again. The price rebounded from the 4/8 level, which means that the market may start a new descending movement. Possibly, Silver may reach a new low during the next several hours.
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