Analysis for July 14th, 2014
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is still consolidating near Super Trends. If price breaks them downwards, pair will continue falling down. If later pair rebounds from the 0/8 level, market may start more serious correction.
Pair is moving in the middle of H1 chart. If later price breaks the 3/8 level downwards, pair will continue falling down towards its next target at the 0/8 one. Possibly, Super Trends may form “bearish cross” during the day.
EUR GBP, “Euro vs Great Britain Pound”
Pair continues consolidating between Super Trends. In the nearest future price may break the 0/8 level and then continue falling down to break the -2/8 one as well. In this case, lines at the chart will be redrawn.
As we can see at H1 chart, current correction faced resistance from the 2/8 level, which means that price may start new descending movement quite soon. I’ll increase my short position as soon as pair breaks Super Trends downwards.
XAG USD, “Silver vs US Dollar”
Silver rebounded from the 7/8 level, which means that price may reverse or start new correction, at least. If instrument is able to break daily Super Trend, closest target for bears will be at the 4/8 level.
As we can see at H1 chart, Super Trends formed “bearish cross”. Probably, price may break the 3/8 level downwards during the day. In this case, instrument will continue falling down towards the 0/8 level.
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