Analysis for July 31st, 2014
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is getting closer to the 0/8 level. Today price may rebound from this level and start correction. During correction price may try to test the 2/8 level.
At H1 chart, the target is at the 0/8 level. Yesterday price rebounded from the 2/8 level and Super Trend indicating descending movement. I moved stop loss on order to the last maximum to provide minimum profit.
EUR GBP, “Euro vs Great Britain Pound”
Pair tests once again the 4/8 level and daily Super Trend. If price rebounds from these levels, descending movement will be resumed. When price stays below the 3/8 level, the target will be at the 0/8 level.
At H1 chart, sellers are trying to rebound from the 8/8 level from which price rebounded not long ago. I have two sell orders with drawdown. When price breaks Super Trends, I am planning to increase short position.
XAG USD, “Silver vs US Dollar”
Silver tests once again the 5/8 level. If price rebounds from this level once again, I expect quotes falling down towards the 3/8 level.
At H1 chart, there is flat and Super Trends are still consolidating. Probably, price will rebound from the 4/8 level indicating the new descending movement.
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