Analysis for August 29th, 2014
EURUSD, “Euro vs US Dollar”
Euro is again trying to stay below the 0/8 level. However, taking into account the fact that the pair rebounded upwards not long time ago, we can expect this correction to continue. Possibly, bears may be supported by the daily Super Trend.
Despite “bearish cross” formed by Super trends, I’m keeping my buy order with the stop loss below the ‑1/8 level. However, if later bulls are unable to break the 2/8 level, the price may start moving inside the downtrend again.
AUDUSD, “Australian Dollar vs US Dollar”
Despite the fact that Australian Dollar was able to stay above Super Trends, they couldn’t form “bullish cross” so far. I’m keeping my buy order with the target at the 4/8 level.
The lines at the H4 and H1 charts are completely the same. However, as we can see at the H1, Super Trends have already formed “bullish cross”, which means that the pair may continue growing. We should note, that if the pair rebounds from the 4/8 level, bears may return to the market.
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