Analysis for April 15th, 2014
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is still being corrected; price is supported by H4 Super Trend. If pair rebounds from it, market will start new ascending movement towards closest target at the 6/8 level.
As we can see at H1 chart, pair rebounded from the 3/8 level and started correction. Right now, price is moving between Super Trends, which are still influenced by “bullish cross”. If later market rebounds from the 4/8 level, pair may start more serious correction.
EUR JPY, “Euro vs Japanese Yen”
After rebounding from daily Super Trend twice, pair started another descending movement; earlier Super Trends formed “bearish cross”. If later pair breaks the 3/8 level downwards, market will continue falling down towards the 0/8 one.
At H1 chart, price is trying to stay inside “oversold zone”. Pair completed local correction and I decided to open another order. Possibly, pair may test the -2/8 level during the day. If price breaks this level, lines at the chart will be redrawn.
XAG USD, “Silver vs US Dollar”
After rebounding from the 4/8 level and daily Super Trend, Silver is starting new descending movement. It looks like price may break local minimum during the next several hours. I’ll increase my short position as soon as market breaks the 2/8 level downwards.
As we can see at H1 chart, Super Trends formed “bearish cross”. In the near term, Silver is expected to test the 0/8 level. Considering the situation on major charts, instrument may break this level.
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