Analysis for October 13th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar hasn’t been able to break the 7/8 level again, which means that bulls are weak. If the price is able to stay below Super Trends, it may resume moving downwards. It’s highly likely that the market may break its local low during the day.
If Super trends form “bearish cross” at the H1 chart, the pair may resume its decline. Otherwise, the pair may break the 3/8 level and continue the current ascending correction.
XAG USD, “Silver vs US Dollar”
As we can see at the H4 chart, Silver is moving below Super Trends again. If later the price breaks the 8/8 level, I’m planning to open another sell order. In this case, the closest target will be at the 6/8 level.
The lines at the H4 and H1 charts are completely the same. it’s highly likely that the price may break the last week’s low (15.380) on Tuesday and then continue falling towards the 6/8 level.
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