Analysis for August 19th, 2014
EUR USD, “Euro vs US Dollar”
Bears have been trying to start new ascending movement for more than a week, but still unsuccessfully. Yesterday they made another attempt to keep the price below the H4 Super Trend, but haven’t succeeded yet; at the chart we can see that they attempted several times, but always failed. Taking into account this fact, I’ve moved stop losses on all my orders to the recently reached maximum.
As we can see at the H1 chart, sellers are luckier – at the end of the first day of this trading week, Super Trends formed “bearish cross”. Now bears must keep the pair below Super Trends, which are already in the “red zone”. We should also pay attention to the fact that the price broke the 3/8 level, which means that the market may reach the 0/8 level very soon.
AUD JPY, “Australian Dollar vs Japanese Yen”
The pair was able to break Super Trends and now bulls must keep the price above the 5/8 level. If they succeed in doing it, the market will continue growing to reach the 8/8 level. Otherwise, the instrument may start new correction, which may break the 4/8 level and continue falling towards the 3/8 level or even the 2/8 one.
The lines at the H4 and H1 charts are completely the same; the price is supported by Super Trends, which entered the “green zone”. After bulls break the 5/8 level upwards, I’m planning to open another buy order.
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