Analysis for May 7th, 2013
USD/CAD
At the H4 chart of the USD/CAD currency pair, the Alligator is about to close its mouth. The indicators are in the green zone; the price is forming a bearish fractal; there might be a Squat bar on the MFI. I’m keeping my sell order opened; a protective stop is placed above the Alligator’s teeth.
At the H1 chart of the USD/CAD currency pair, the Alligator is moving downwards. AO and AC indicators are in the green zone so far; there is a Fade bar on the MFI. I’m keeping my sell order opened with the target below bearish fractals; a protective stop is placed above the Alligator’s mouth.
NZD/USD
At the H4 chart of the NZD/USD currency pair, the Alligator is sleeping. The indicators are in the red zone so far; the price finished a bearish fractal; there is a Fade bar on the MFI. I’m staying out of the market until the price completes one more bearish fractal.
At the H1 chart of the NZD/USD currency pair, the Alligator is also sleeping. AO and AC indicators are in the red zone; there is a Squat bar on the MFI. After the price finishes a bullish and a bearish fractals, which are equidistant from each other, I’ll consider opening a long position.
RoboForex Analytical Department