Article By RoboForex.com
Analysis for November 20th, 2013
AUD/USD
Bulls took control and broke local maximum yesterday. The only thing that is slowing them down is weekly Super Trend. If they break it, price will continue growing up towards the 4/8 level.
At H1 chart, bulls are trying to keep price above the 5/8 level. If they succeed, pair will continue growing up. In this case, target will be at the 8/8 level.
EUR/JPY
Pair continues moving upwards quite fast. On Tuesday, bulls broke maximum and right now price is moving above the 5/8 level. Most likely, after slight correction, market will continue growing up towards the 8/8 level.
Levels at H4 and H1 charts are completely the same; bulls are supported by Super Trends, from which pair rebounded yesterday. In the future, we recommend you to pay attention how price will move at the 7/8 level: if it rebounds from this level, market may reverse.
SILVER
Silver is being corrected. Possibly, price may rebound from H4 Super Trend, which means that it may continue falling down. I’ve closed my sell order and placed a limit one instead.
At H1 chart, we can see that bears’ first attempt to enter “oversold zone” failed. If, in the nearest future, market rebounds from the 1/8 level, bears will have a chance to start new descending movement towards the -2/8 one.
RoboForex Analytical Department
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.
Article By RoboForex.com
