Analysis for February 5th, 2014
AUD USD, “Australian Dollar vs US Dollar”
Just as we expected, Australian Dollar couldn’t stay above the 6/8 level for a long time. If later pair is able to stay below Super Trends, bears may return to the market. After price breaks the 4/8 level, down-trend will continue.
The lines at the H4 and H1 charts are completely the same. I’ve got only one sell order so far, but I’m planning to increase my position and move stop on my first order into the black right after pair breaks Super Trends.
GBP CHF, “Great Britain Pound vs Swiss Franc”
Yesterday pair rebounded from the 4/8 level and lower border of Wolfe Wave pattern. During correction, I opened one more buy order. Most likely, price will break H4 Super Trend by the end of the day.
At H1 chart, pair is moving close to the 2/8 level. If price breaks it, market will start new ascending movement. Possibly, Super Trends may form “bullish cross” during the next several hours.
XAG USD, “Silver vs US Dollar”
Silver is still moving between Super Trends and trying to rebound from upper border of descending channel. If market is able to keep price below the 3/8 level, I’ll increase my position. Main target is at the 0/8 level.
The lines at the H4 and H1 charts are completely the same; price is trying to rebound from the 4/8 level for the second time. After instrument starts falling down, I’ll move stop into the black.
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