Analysis for October 31st, 2013
AUD/USD
Australian Dollar is trying to rebound from the channel’s lower border. I opened a short-term sell order, but it’s quite risky, because the price is still moving below the Super Trends. I’ll increase my position right as soon as the pair breaks the daily Super Trend.
The lines at the H4 and H1 charts are completely the same. The market rebounded from the 3/8 level and right now is moving between the Super Trends. We can’t exclude a possibility that in the nearest future the pair may grow up towards the 5/8 level. The future scenario depends on how the price will move at this level.
GBP/CHF
The pair has been consolidating for several day; the bears are supported by the H4 Super Trend. There is a possibility that the price may stay inside an “oversold zone” and continue falling down towards the -2/8 level.
At the H1 chart, the price also tried to inside an “oversold zone”, but failed. If later the pair breaks the ‑2/8 level, the lines at the chart will be redrawn.
SILVER
Silver wasn’t able to break the 7/8 level and started a correction. The stop on my buy order opened earlier worked, and after that, I opened another buy order with the target at the daily Super Trend. If the price rebounds from it, the bulls will return to the market.
At the H1 chart, the Super Trends formed “bearish cross”. Earlier the price rebounded from the 6/8 level. During a local correction, I opened a short-term sell order. I’m planning to move the stop into the black as soon as the price breaks the minimum.
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