Article By RoboForex.com
Analysis for December 16th, 2013
AUD/USD
After rebounding from daily Super Trend, Australian Dollar started fast descending movement. Currently, price is being corrected. Probably, instrument may face resistance from H4 Super Trend. If price rebounds from it, next target will be at the 0/8 level.
At H1 chart, bears’ first attempt to break the 0/8 level and enter “oversold zone” failed. Most likely, price won’t able to stay above the 2/8 level for a long time. During correction, I opened one more sell order and plan to move stop into the black as soon as market starts moving downwards.
NZD/JPY
NZD/JPY rebounded from daily Super Trend and the 4/8 level. If later market is able to keep price above the 5/8 level, instrument will continue growing up. In this case, target will be at the 8/8 level.
At H1 chart, pair is consolidating. Possibly, during the next several hours price may leave this consolidation channel and start moving towards the +2/8 level. If later pair breaks this level, lines at the chart will be redrawn.
SILVER
Super Trends formed “bearish cross”. Possibly, instrument may complete current correction. If bears break the 0/8 level, their new short-term target will be at the -2/8 level.
At H1 chart, price is moving between the 3/8 – 5/8 levels. Instrument may try to test Super Trends during Monday. If market rebounds from them, I’ll increase my short positions.
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.
