Analysis for May 20th, 2013
USD/CAD
At the H4 chart of the USD/CAD currency pair, the Alligator is moving upwards. The price is forming a bearish fractal; AO and AC indicators are in the grey zone; there is a Squat bar on the MFI. I’m keeping my buy order; a protective stop is in the black.
At the H1 chart of the USD/CAD currency pair, the Alligator woke up and is also moving upwards. The angle of angulation is open; AO and AC indicators are in the grey zone; there is a Squat bar on the MFI. I opened a buy order with the target above a bullish fractal; Take Profit is at the level of 1.0350.
NZD/USD
At the H4 chart of the NZD/USD currency pair, the Alligator is moving downwards. The price is forming a bearish fractal; after Inverted Saucer pattern on AO, the indicators entered the green zone; there is a Squat bar on the MFI. I’m staying out of the market until the price forms a bullish fractal.
At the H1 chart of the NZD/USD currency pair, the Alligator is moving downwards. The angle of angulation is open; AO and AC indicators are in the green zone; there is a Fade bar on the MFI. A divergence may cause the price to move past the Alligator’s jaw.
RoboForex Analytical Department