Analysis for November 11th, 2013
AUD/USD
After rebounding from Super Trends, Australian Dollar continued moving downwards. Right now, market is consolidating and I’ve decided to open another sell order. Main target is still at the 0/8 level.
Price is moving in the middle of H1 chart and supported by Super Trend. In the near term, pair is expected to start falling down again towards the 0/8 level.
GBP/CHF
Pair is being corrected; earlier Super Trends formed “bullish cross”. Possibly, price may break maximum during Monday. Take Profits on my buy orders are placed at the 8/8 level.
Levels at H4 and H1 charts are completely the same; bulls are supported by Super Trends, from which price has already rebounded several times. I’ll move stops higher as soon as pair breaks maximum.
SILVER
Bear continue pushing Silver downwards. During correction, I opened on more sell order. Closest target is at the 1/8 level, which may later become starting point of new correction.
At H1 chart, market is moving inside “oversold zone”. During local correction, bulls weren’t able to keep price above Super Trends. In the future, instrument is expected to break the -2/8 level. In this case, lines at the chart will be redrawn.
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