Article By RoboForex.com
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar rebounded from the 7/8 level twice, which means that price may start new correction. If pair breaks H4 Super Trend, market may continue falling down towards daily Super Trend, where I placed limit buy order.
At H1 chart, market is trying to rebound from the 3/8 level. Possibly, Super Trends may form “bearish cross” in the nearest future. Correction may face resistance from the 1/8 level: if price rebounds from it, pair will start growing up again.
Last Friday, pair rebounded from daily Super Trend once more, that’s why I’m keeping my sell order. Closest target is at the -2/8 level: if pair breaks it, lines at the chart will be redrawn.
At H1 chart we ca see, that bulls still hasn’t been able to break the 8/8 level. Probably, Super Trends may form “bearish cross” on Monday. I’ll move stop into the black right after market starts falling down.
Silver rebounded from Super Trends, which formed “bullish cross”. Probably, in the nearest future price may break the 8/8 level and enter “overbought zone”.
The lines at the H4 and H1 charts are completely the same. I’ve moved stop on my buy order to local minimum and plan to move it into the black after price breaks latest maximum. If instrument breaks the +2/8 level, lines at the chart will be redrawn.
RoboForex Analytical Department
Article By RoboForex.com
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