Analysis for October 22nd, 2013
AUD/USD
Australian Dollar is still consolidating; the bulls are supported by the H4 Super Trend. If the price is able to rebounds from the current levels, the pair will continue growing up towards the 8/8 one.
At the H1 chart, the pair is moving inside an “overbought zone”. Few hours ago the pair rebounded from the 8/8 level and may break the +2/8 one in the nearest future. In this case, the lines at the chart may be redrawn during the day.
GBP/CHF
The pair rebounded from the daily Super Trend and right now is moving below the H4 one, which is in the “red zone”. I have two sell orders with the target at the 0/8 level. If the price stays below the 2/8 level, the bears will return to the market.
At the H1 chart, the pair is being corrected below the 5/8 level; the Super Trends formed “bearish cross”. The intermediate target for the bears is at the 3/8 level. If the market breaks it, the pair will continue falling down.
SILVER
Silver is also being corrected. We can’t exclude a possibility that in the nearest future the price may test the 4/8 level. If the market rebounds from it, the instrument will continue growing up towards the 7/8 level.
At the H1 chart, the price is moving inside an “overbought zone”; the Super Trends formed “bullish cross”. Despite the assumption that the current correction may yet continue, the price is expected to break the +2/8 level quite soon. In this case, the lines at the chart will redrawn.
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