Analysis for November 10th, 2014
EUR USD, “Euro vs US Dollar”
Eurodollar has started a fast correction. Considering that the market is moving below the H4 Super Trends, I’ve decided to open a short-term buy order. The target is at the 1/8 level and the daily Super Trend, which may provide support for bears.
At the H1 chart, the price is moving above the 4/8 level quite steadily; Super trends have formed “bullish cross”. If later the pair breaks the 6/8 level, it may be a sign of a more serious correction.
XAU USD, “Gold vs US Dollar”
Silver has rebounded from the 1/8 level three times. Moreover, the price has been able to stay above the daily Super Trend, giving a chance to open a short-term buy order. I’ll move the stop loss to breakeven as soon as the market start moving upwards.
The lines at the H4 and H1 charts are completely the same; last Friday Super Trends formed “bullish cross”. The closest target is at the 5/8 level: after the market breaks this level, it may start forming a longer and more serious correction.
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