Analysis for August 23rd, 2012
Australian Dollar hasn’t been able to break the +2/8
level and now is trying to start moving downwards. Earlier the Super Trends’ lines formed “bearish cross”. The price may continue falling down towards the 4/8
level in the nearest future.
At the H1 chart the corrective movement was stopped at the 5/8
level. If the price rebounds from this level, the pair may continue falling down towards the 0/8
one, break it and move lower.
The Super Trends’ lines formed “dead cross”. Currently the pair is consolidating near the 1/8
level. The price may continue falling down in the nearest future. The closest target is at the -2/8
At the H1 chart the pair is moving below the 3/8
level. Most likely, the price will continue moving downwards and reach the -2/8
level. If the market breaks this level, the lines at the chart will be redrawn.
The CAD/JPY currency pair couldn’t move higher than the 7/8
level. The price has broken the daily Super Trend’s line and right now is being corrected below it. We can’t exclude a possibility that in the nearest future the pair may start moving downwards. The closest target is at the 4/8
At the H1 chart the price started the corrective movement form the 0/8
level. Most likely, the bulls will try to break the 3/8
level, but I don’t think they will stay above it for a long time. Later the pair may break the ‑2/8
level and the lines at the H1 chart will be redrawn.