Analysis for April 23rd, 2014
AUDUSD, “Australian Dollar vs US Dollar”
Australian Dollar is still being corrected; right now pair is testing the 4/8 level. In addition to that, we can see that market is moving close to lower border of ascending channel. That’s why I opened buy order, in case price rebounds from current levels and starts growing up again.
As we can see at H1 chart, bears are testing the 0/8 level. Possibly, they may rebound from it and if they do, I’ll move stop on my buy order into the black. If later pair breaks Super Trends upwards, I’ll increase my long position.
EURGBP, “Euro vs Great Britain Pound”
Pair is being corrected again. Possibly, bears may find support from H4 Super Trend one more time. If market breaks H4 Super Trend, price may break the 0/8 level and enter “oversold zone”.
At H1 chart, Super Trends are still influenced by “bearish cross”. Possibly, price may try to test the 3/8 level. If bears rebound from it, market will move towards the 0/8 one and break it.
XAGUSD, “Silver vs US Dollar”
Silver is still being corrected. Earlier price rebounded from H4 Super Trends several times. In the near term, instrument is expected to break local minimum and continue moving downwards to reach the 0/8 level.
As we can see at H1 chart, Silver may try to test Super Trend and the 4/8 level. If Silver rebounds from these levels and then is able to stay below the 3/8 level, instrument may start new descending movement towards the 0/8 one.
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