Analysis for April 24th, 2014
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is trying to rebound from lower border of ascending channel and the 4/8 level. Market is still moving below Super Trends, that’s why I moved stop on my yesterday’s order into the black, because the situation is quite risky. If later pair breaks Super Trends upwards, I’ll open another order.
As we can see at H1 chart, pair rebounded from the 0/8 level and may start new ascending movement. Later bulls have to break the 2/8 level and Super Trends upwards. Short-tern target is at the 4/8 level.
EUR GBP, “Euro vs Great Britain Pound”
Pair couldn’t stay below the 1/8 level and started moving upwards very fast. Possibly, the movement pair started after rebounding from Super Trend is just a correction, and later market may grow up towards the 3/8 level. I opened buy order with target placed at this level.
At H1 chart, Super Trends formed “bullish cross”. Pair rebounded from current levels and I decided to open buy order. As soon as market is able to keep price above the 5/8 level, pair will continue growing up towards the 8/8 one.
XAG USD, “Silver vs US Dollar”
Silver is still consolidating. Yesterday price rebounded from H4 Super Trend again. In the future, instrument is expected to start moving downwards to reach the 0/8 level.
Silver is still moving in the middle of H1 chart; bears are supported by the 4/8 level, from which price rebounded several times. If instrument breaks the 3/8 level and stays below it, market will continue falling down towards the 0/8 one.
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