Article By RoboForex.com
Analysis for January 16th, 2014
AUD/USD
Yesterday, Australian Dollar continued moving downwards and I moved stop on my sell order into the black. Super Trends have already formed “bearish cross”. Possibly, price may reach the 0/8 level and then enter “oversold zone” during the day. Main target is at the -2/8 level.
Pair is moving in lower part of H1 chart. Most likely, price will continue falling down during the day. If later instrument breaks the -2/8 level, lines at the chart will be redrawn.
EUR/JPY
Pair rebounded from the 2/8 level and started growing up again; right now, price is already moving above H4 Super Trends and may try to break the 4/8 level. If later price stays above this level, market will continue moving upwards.
At H1 chart, price is moving above the 5/8 level. If bulls are able to rebound from Super Trend, pair may start new ascending movement. Short-term target is at the 8/8 level.
SILVER
Silver left “overbought zone” and couldn’t break the 6/8 level so far. In addition to that, price formed bearish Wolfe Wave, which means that bears may continue pushing price downwards. First of all, they have to break daily Super Trend.
The lines at the H4 and H1 charts are completely the same. Super Trends are very close to each other, so they may form “bearish cross” in the nearest future. I’ll move stop on my sell order into the black as soon as instrument breaks local minimum.
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.
