Analysis for July 22nd, 2014
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is moving above Super Trends, therefore, there is no point in keeping my sell order. O closed it and opened new buy order with stop loss placed at local low. Closest target is at the 6/8 level, but if it is broken, next target will be at the 8/8 one.
Pair is moving in the middle of H1 chart; after consolidating, Super Trends started moving upwards. Possibly, price may reach new high during the day.
EUR GBP, “Euro vs Great Britain Pound”
Pair is still moving inside “oversold zone”. Probably, during the day price may test the 0/8 level. If price rebounds from it, target will be at the -2/8 level, where I placed take profit on my sell orders.
At H1 chart, price is about to test the 4/8 level. If it rebounds from this level and stays below Super Trends, I’m planning to increase my short position with target at the 0/8 level, which may be reach during the next several days.
XAG USD, “Silver vs US Dollar”
Yesterday, sellers successfully tested Super Trends, which earlier formed “bearish cross”. I’m keeping one sell order, closest target is at the 4/8 level. If this level is broken later, market will continue falling down.
As we can see at H1 chart, bears are supported by the 4/8 level and daily Super Trend. Possibly, during the day sellers may try to break the 0/8 level and enter “oversold zone”.
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