Analysis for June 14th, 2012
Canadian Dollar continues moving above the 4/8
level near the Super Trends’ lines. If the price rebounds from the current levels, the market will continue growing up. The short-term target for the bulls is the 8/8
The price is moving in the lower part of the H1 chart. Earlier the pair successfully left an “oversold zone”. There is a possibility that the price may start moving upwards again. The target for the next several days is the 4/8
There is a possibility that the corrective movement may continue in the nearest future. The bulls may push the price to the 4/8
level, but it will probably rebound from the level. After that we can expect the pair to continue moving downwards inside the descending trend.
The pair has been moving inside a very narrow trade range for the last several days. The price may start continue moving upwards and reach the 8/8
level at least, but the main trend is still descending. The forecast of the price movement also remains bearish, that’s why I keep holding my sell orders.
Silver continues moving near the Super Trends’ lines. If the price rebounds from the current levels, the market will continue falling down. The target level for the next several days is the 8/8
one, where Take Profit on sell order is placed.
At the H1 chart the market is consolidating between the 5/8
levels. If the price is able to stay below the 3/8
level, the descending trend will continue. There is a possibility that the price may break the -2/8
level in the nearest future and the lines at the chart will be redrawn.