Analysis for October 23rd, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar continues falling. Yesterday, the pair broke the 4/8 level and Super Trends formed “bearish cross”. It’s highly likely that after completing the local correction, the price may continue falling towards the 0/8 level.
The lines at the H4 and H1 charts are completely the same. Considering that the pair is moving below the 3/8 level, it may continue falling towards the 0/8 one. The fact that the market rebounded from the H1 Super Trend also indicates that the price may continue moving downwards.
XAG USD, “Silver vs US Dollar”
As we can see at the H4 chart, Silver is moving inside “overbought zone” and supported by Super Trends. It’s highly likely that in the nearest future the price may break the +2/8 level. In this case, the lines at the chart will be redrawn.
At the H1 chart, the price is moving in the middle. Yesterday, Super Trends formed “bullish cross”. The closest target is at the 5/8 level. If the pair breaks this level and stays above it, the market will continue moving upwards.
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