Analysis for March 18th, 2013
USD/CAD
Canadian Dollar is moving above the Super Trends’ lines again. We can’t exclude a possibility that the bulls may break the
8/8 level and enter an “overbought zone” during the next several hours. In this case, the market will continue growing up towards the
+2/8 level.
At the H1 chart the Super Trends’ lines formed “bullish cross”; earlier the price rebounded from the
2/8 level. In the near term, the bulls are expected to keep the price above the
4/8 level and then continue pushing it towards the
6/8 one.
NZD/USD
On Monday the market was opened with a gap down. If the sellers are able to break the
3/8 level, the price will continue falling down towards the
0/8 one. During a correction I opened a sell order with the stop placed above the daily Super Trend’s line.
At the H1 chart we can see that the price rebounded from the
7/8 level once again; the pair is moving between the Super Trends’ lines. If the market is able to keep the price below the H4 Super Trend’s line, the pair will start a new descending movement.
GBP/CHF
The GBP/CHF currency pair is finishing a correctional movement; the bears are supported by the
5/8 level and the daily Super Trend’s line. If the price rebounds from the current levels, the market will start a new descending movement. The main target is still at the
0/8 level.
At the H1 chart the pair is consolidating. If the sellers are able to keep the price below the Super Trends’ lines and then break the
4/8 level, nothing will prevent them from continuing pushing the price towards the
0/8 one.
RoboForex Analytical Department