Analysis for July 17th, 2014
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar correction has been stopped by Super Trends. Moreover, price is moving in the descending channel, trying to rebound from its upper border. I have only one sell order, however, when Super Trends will form “bearish cross” I am planning to add more.
Price’s first attempt to break the 0/8 level failed and it started new correction. If bears break the 2/8 level, price may start descending movement to the “oversold zone”.
EUR GBP, “Euro vs Great Britain Pound”
Price is still being corrected inside “oversold zone”. If price rebounds from the -1/8 level, then the breakout of the -2/8 level may be within several hours. Probably, by the end of the trading week the lines in the chart will be redrawn.
Price’s first attempt to break the 1/8 level failed. Price is moving below Super Trends. Stop losses are at the local maximum, if price rebounds from daily Super Trend, price may reach the 0/8 level very soon.
XAG USD, “Silver vs US Dollar”
Silver is being corrected below Super Trends that have formed “bearish cross”. In the nearest future, if bears break the 4/8 level, price may start descending movement.
Bear’s first attempt to break the -1/8 level failed. If during the day price rebounds from the 2/8 level and Super Trend, I will increase my short position with the view to the breakout of the -2/8 level and chart lines redrawing.
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