Analysis for August 15th, 2012
The correction may continue for a while. We can’t exclude a possibility that the bulls may try to test the 5/8
level. If they rebound from this level, the price will start growing up. Most likely, the pair will break the 8/8
level and continue moving upwards.
At the H1 chart the pair is moving between the 5/8
levels. We can expect the price to continue the corrective movement in the nearest future. Later the market may start growing up again, the closest target will be the 8/8
The local correction may continue for a little while. Later the market may start falling down again and break the 0/8
level. If the bears break the -2/8
level, the lines at the chart will be redrawn.
At the H1 chart we can see, that the bulls may yet try to test the 5/8
level. If the price rebounds from this level, the descending trend will continue. The short-term target is at the 0/8
The price did manage to rebound from the 8/8
level. If the bears are able to keep the price below the Super Trends’ lines, which are already in the “red zone”, the instrument may start moving downwards again. The short-term target is at the 0/8
The lines at the H1 and the H4 charts are completely the same. The Super Trends’ lines have formed “bearish cross”. In the near term, we can expect the price to continue falling down towards the 0/8