Analysis for October 28th, 2014
EURUSD, “Euro vs US Dollar”
Eurodollar is still consolidating near the upper border of “oversold zone”; earlier Super Trends formed “bearish cross”. If the price rebounds from the current levels, the market will resume falling towards the -2/8 one.
At the H1 chart, the pair is also moving at the bottom. The current correction is taking too much time already, which resulted in “bullish cross” formed by Super Trends. I’m planning to increase my short position as soon as the price breaks the -1/8 level downwards.
XAGUSD, “Silver vs US Dollar”
Silver is still consolidating; bears are supported by Super Trends, from which the price has rebounded several times. Possibly, during the next several days the market might be able to reach a new local low and test the 1/8 level.
As we can see at the H1 chart, bears are making another attempt to break the -2/8 level. If they succeed, the lines at the chart will be redrawn. I’ll move the stops to the previous maximum as soon as the price breaks a local low.
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