Analysis for April 3rd, 2014
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar rebounded from the 8/8 level twice. Later, price was able to stay below H4 Super Trend and I decided to move the stop on my sell order into the black. In the near term, market is expected to fall down towards the 6/8 level and daily Super Trend.
At H1 chart, Super Trends formed “bearish cross”. If price is able to stay below the 6/8 level, market will continue falling down towards the 4/8 one. If bears break this level as well, pair will move much lower.
EUR JPY, “Euro vs Japanese Yen”
Fast ascending movement was stopped at the 7/8 level. Possibly, pair is starting new correction, that’s why I closed my buy order and opened a sell one. Closest target for bears is at the 6/8 level: if pair rebounds from it, market may start new ascending movement.
At H1 chart, price rebounded from the 7/8 level and right now is moving between Super Trends, which are still inside “green zone”. Possibly, pair may reach the 4/8 level until the end of this week.
XAG USD, “Silver vs US Dollar”
Silver is still consolidating; bears are trying to keep price below the 3/8 level. If they succeed, market will continue falling down towards the 0/8 level.
At H1 chart we can see, that despite “bearish cross” formed by Super Trends, Silver is already moving below them. In the near term, price may break the 0/8 level. Later instrument is expected to break the ‑2/8 level. In this case, lines at the chart will be redrawn.
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