Analysis for September 13th, 2012
While Franc is being corrected, I’ve decided to open one more sell order. The bears are supported by the H4 Super Trend’s line. The market is moving below the 5/8
level, thus indicating that the price may continue falling down towards the 4/8
At the H1 chart the pair is inside an “oversold zone”, the price is moving towards the 0/8
level to test it. In case it rebounds from the level, we can expect the local down-trend to continue. If the market breaks the ‑2/8
level, the lines at the chart will be redrawn.
The EUR/JPY currency pair is consolidating inside an “overbought zone”. The price has rebounded from the H4 Super Trend’s line, thus indicating the pair may start moving upwards. The short-term target is at the +2/8
level. If the price breaks it, the lines at the chart will be redrawn.
At the H1 chart the situation is quite similar. The bulls are moving the price inside an “overbought zone”. The pair may break the +2/8
level during Thursday and the lines at the chart will be redrawn.
Yesterday Silver rebounded from the daily Super Trends’ line, which means that the instrument may start moving upwards. Now the bulls have to keep the price above the H4 Super Trend. I’ve placed Take Profit on buy order at the +1/8
level, but the market may grow up much higher.
The instrument rebounded from the 4/8
level and is currently consolidating. If the price breaks the Super Trends’ lines backwards during the next several hours, we can expect Silver to start growing up towards the +2/8