Analysis for September 12th, 2012
Franc continues moving downwards. The bears are supported by the H4 Super Trend’s line, they have been able to keep the price below the 5/8
level, which means that the pair may continue falling down towards the 4/8
At the H1 chart the bears are moving the price inside an “oversold zone”. The bulls’ attempts to break the 0/8
level backwards failed. If the price breaks the -2/8
level, the lines at the chart will be redrawn.
The bulls have entered an “overbought zone”. The Super Trend’s line is hardly able to follow the price as it’s moving upwards very fast. It looks like the price is going to break the +2/8
level and the lines at the chart will be redrawn.
The lines at the H4 and the H1 charts are completely the same. I’ve moved the stop on buy order into the black. In the near term, New Zealand Dollar is expected to continue growing up.
The EUR/GBP currency pair is moving above the 5/8
level, which means that it may continue moving upwards. The bulls are supported by the H4 Super Trend’s line. The short-term target is still at the 8/8
At the H1 chart the pair is moving inside an “overbought zone”, the 6/8
level have supported the price several times. Most likely, the pair will break the +2/8
level during Wednesday and the lines at the chart will be redrawn.