Analysis for January 3rd, 2014
AUD/USD
Australian Dollar is still being corrected; price broke daily Super Trend and may not start new descending movement. However, if price isn’t able to stay above daily Super trend for a long time, pair may start falling down again. Bears are also supported by Wolfe wave.
At H1 chart, price is moving inside “overbought zone”; Super Trends have already formed “bullish cross”. If pair breaks Super Trend downwards, I’ll increase my long positions with target at new minimums.
EUR/JPY
EUR/JPY us starting new correction. Price broke the
8/8 level, and Super Trends formed “bearish cross”. Most likely, in the nearest future pair will continue falling down towards the
6/8 level.
At H1 chart, price is already moving above the
3/8 level and may continue falling down towards the
0/8 one. Right now, market is being corrected and I’ve decided to open short-term sell order. If price rebounds from H1 Super Trend, market will continue falling down.
SILVER
Silver rebounded from the
0/8 level and right now is already moving near the
4/8 level. Possibly, price may try to test the
5/8 level during the day. If price rebounds from it and stays below Super Trends, instrument may start new descending movement.
At H1 chart, price rebounded from the
8/8 level several times. Possibly, Silver may enter “overbought zone” during the day, but if price isn’t able to stay inside it, bears may return to the market.
RoboForex Analytical Department