Article By RoboForex.com
Analysis for January 13th, 2014
AUD/USD
Correction turned out to be deeper than we expected; market formed bearish Wolfe Wave, that’s why price may yet continue falling down. I opened quite a risky sell order and plan to move stop into the black right after pair rebounds from Wolfe Wave’s upper border.
At H1 chart we can see, that bulls have already reached the 8/8 level. If pair rebounds from it during the day, bears will return to the market. Closest target is at the 6/8 level: if price breaks it, pair will continue falling down.
EUR/JPY
Right after the market opening, pair reached new minimum and I moved stop on my order into the black. I’m planning to close my sell order using Take Profit at the 2/8 level. However, if price breaks this level, I may open sell orders again.
At H1 chart, Super Trends formed “bearish cross”; earlier price rebounded from the 7/8 level several times. Right now, market is being corrected, but may start new descending movement in the nearest future.
SILVER
Silver is moving upwards and trying to rebound from the 8/8 level. In addition to that, price is very close to the already tested trend line, which means that instrument may start, at least, new local descending movement.
The lines at the H4 and H1 charts are completely the same. If price is able to stay below Super Trends and later break the 4/8 level, I’ll increase my short position. However, this trade is quite risky, that’s why I’m planning to move stop into the black right after instrument starts moving downwards.
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.
