Analysis for September 17th, 2014
EUR USD, “Euro vs US Dollar”
Eurodollar is still consolidating. The price is trying to stay above the 0/8 level, which means that the current correction may continue. On the other hand, until the price breaks the 1/8 level, the main priority is continuation of a bearish trend.
At the H1 chart, the price is moving inside “overbought zone”. Considering that after making an unsuccessful attempt to break the +2/8 level, the price was able to stay below the +1/8 one, there is still a possibility that the downtrend may resume. I’m planning to increase my short position as soon as the market breaks Super Trends.
XAG USD, “Silver vs US Dollar”
After being supported by the 0/8 level and the H4 Super Trend, Silver is trying to start falling again. The first target for bears is at the -2/8 level. If later the market breaks it, the lines at the chart will be redrawn.
At the H1 chart, the price continues moving inside “oversold zone”; Super Trends are still influenced by “bearish cross”. I’m planning to move my stop to breakeven as soon as the price breaks the minimum.
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