Analysis for August 13th, 2012
Canadian Dollar is moving below the 3/8
level, the bears are supported by the H4 Super Trend’s line. We can’t exclude a possibility that the price may continue moving downwards in the nearest future. The main target is at the 0/8
At the H1 chart the price is consolidating below the 1/8
level. In the nearest future we can expect the descending trend to continue. Later the bears may break the -2/8
level and the lines at the chart will be redrawn.
The bears has stopped at the daily Super Trend’s line at the 3/8
level, earlier the price rebounded from the 5/8
one. If the pair breaks the current levels, the pair will continue falling down towards the 0/8
At the H1 chart the market is moving below the 3/8
level, the bears are supported by the Super Trend’s line. Most likely, the price will reach the 0/8
level in the nearest future. If this level is broken, the market will continue moving downwards.
The bulls are trying to break the 8/8
level once again. Earlier the market couldn’t stay inside an “overbought zone” for a long time and the price rebounded from the current levels. There is a possibility that it may happen again this time. The short-term target is the 4/8
The pair is moving in the upper part of the H1 chart. The bears are trying to rebound from the 8/8
level. If they succeed in doing it and then keeping the price below the Super Trends’ lines, the instrument will start moving downwards again.