Analysis for January 18th, 2013
The market is consolidating a bit above the 6/8
level; the bulls are supported by the Super Trends’ lines. We can’t exclude a possibility that the price may continue moving upwards in the nearest future. The main target is at the 8/8
At the H1 chart the bulls have to keep the price above the 5/8
level. There is a possibility that the pair may yet try to test the 4/8
level. If the pair rebounds from it, the price will start a new ascending movement towards the 8/8
After rebounding from the daily Super Trend’s line, the pair started growing up again. Currently the price is moving inside an “overbought zone”. In the near term, the pair is expected to reach the level of +2/8
The lines at the H4 and the H1 charts are completely the same. There is a possibility that the price may try to test the 8/8
level once again. If the price rebounds from it, the pair will start a new ascending movement.
The pair is moving upwards inside an “overbought zone”; the bulls are supported by the H4 Super Trend’s line. Most likely, a local correction will take place during the day, but later the price is expected to continue growing up.
The lines at the H4 and the H1 charts are completely the same. In the nearest future the pair may try to test the +1/8
level. If the price rebounds from it, the pair will start moving upwards again.
RoboForex Analytical Department
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