Analysis for September 5th, 2012
New Zealand Dollar is still moving downwards, the bears are supported by the H4 Super Trend. Taking into consideration the fact that the price is below the 3/8
level, we can expect it to continue falling down towards the 0/8
At the H1 chart the market has entered an “oversold zone”. Most likely, the price will try to test the 0/8
level once again. If the price rebounds from the level, the pair will continue falling down. After the market breaks the -2/8
level, the lines at the chart will be redrawn.
The consolidation continues. The bears are trying to keep the price below the 6/8
level again. Earlier the market couldn’t stay below this level for a long time. If the pair rebounds from the current levels, it may start moving upwards again.
At the H1 chart the bears faced the resistance at the 2/8
level again. If later the price breaks the Super Trends’ lines backwards, the pair may continue growing up. The closest target is the 8/8
Silver is being corrected inside an “overbought zone”, the bulls are supported by the Super Trend’s line and the +1/8
level. If the price rebounds from the current levels, the pair will break the +2/8
level and the lines at the chart will be redrawn.
At the H1 chart the instrument is consolidating between the 7/8
levels. We can’t exclude a possibility that the price may start growing up during the day. The short-term target for the buyers is the 8/8