Article By RoboForex.com
Analysis for January 3rd, 2014
AUD/USD
Australian Dollar is still being corrected; price broke daily Super Trend and may not start new descending movement. However, if price isn’t able to stay above daily Super trend for a long time, pair may start falling down again. Bears are also supported by Wolfe wave.
At H1 chart, price is moving inside “overbought zone”; Super Trends have already formed “bullish cross”. If pair breaks Super Trend downwards, I’ll increase my long positions with target at new minimums.
EUR/JPY
EUR/JPY us starting new correction. Price broke the 8/8 level, and Super Trends formed “bearish cross”. Most likely, in the nearest future pair will continue falling down towards the 6/8 level.
At H1 chart, price is already moving above the 3/8 level and may continue falling down towards the 0/8 one. Right now, market is being corrected and I’ve decided to open short-term sell order. If price rebounds from H1 Super Trend, market will continue falling down.
SILVER
Silver rebounded from the 0/8 level and right now is already moving near the 4/8 level. Possibly, price may try to test the 5/8 level during the day. If price rebounds from it and stays below Super Trends, instrument may start new descending movement.
At H1 chart, price rebounded from the 8/8 level several times. Possibly, Silver may enter “overbought zone” during the day, but if price isn’t able to stay inside it, bears may return to the market.
RoboForex Analytical Department
Article By RoboForex.com
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
