Analysis for January 8th, 2014
AUD/USD
Australian Dollar was able to stay below Super Trends. Earlier price rebounded from trend line and started moving downwards again. Possibly, in the nearest future pair breaks the 0/8 level and continue falling down towards the -2/8 one.
At H1 chart, Super Trends formed “bearish cross”. Bears’ first attempt to break the 4/8 level wasn’t successful, but they may try to test this level once again during Wednesday. Closest target is at the 0/8 level.
GBP/CHF
After rebounding from Super Trends, pair started growing up again. Right now, price is already moving above the 5/8 level, which means that it may continue growing up towards the 8/8 one, which may later become starting point of more serious correction.
Pair is moving in the middle of H1 chart. After price rebounded from Super Trend, I opened one more buy order. If market is able to keep price above the 5/8 level, pair will continue growing up towards its main target at the 8/8 level.
SILVER
Silver couldn’t enter “overbought zone”. Possibly, price may try to test the 4/8 level during the day. If bulls rebound from this level, price may start new ascending movement.
The lines at the H4 and H1 charts are completely the same. Super Trends formed “bearish cross”, which isn’t very good for buyers. If market is able to keep price below the 4/8 level, I’ll close my buy order.
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