Article By RoboForex.com
Analysis for January 30th, 2014
AUD/USD
Australian Dollar rebounded from the 4/8 level and right now is moving below H4 Super Trend again. If pair is able to stay below the 3/8 level, bears will return to the market and continue pushing price towards their target at the 0/8 level.
At H1 chart, Super Trends formed “bearish cross”. Possibly, price may break the 0/8 level and enter “oversold zone” in the nearest future. In this case, later pair is expected to reach and break the -2/8 level.
CAD/JPY
After rebounding from H4 Super Trend several times, pair continued falling down. Probably, pair may rebound from the 2/8 level as well, because this level has been tested on major timeframes. Main target for bears is at the 1/8 level.
At the H1 chart we can see, that pair is very close to the 0/8 level; bears are supported by Super Trend. Most likely, price will break the 0/8 level and continue moving downwards inside “oversold zone”.
SILVER
Yesterday Silver rebounded from daily Super Trend and then reached new minimum. Taking into account the fact that the market is volatile, I’ve moved stop on my order into the black. Main target is at the 0/8 level.
The lines at the H4 and H1 charts are completely the same. If bears are able to keep price below the 3/8 level, instrument will continue falling down. Closest target for bears is at the 0/8 level, which may later become starting point of new correction.
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.
