Analysis for September 20th, 2012
Canadian Dollar is still being corrected, the bears are supported by the daily Super Trend’s line. If the pair rebounds from the current levels, the price will continue moving downwards. The closest target is at the 0/8
At the H1 chart the pair is moving inside an “overbought zone”. If the market breaks the 8/8
level backwards and keep the price below it, the pair will start moving downwards. The first target for the bears will be the 6/8
The GBP/CHF currency pair is also being corrected, yesterday the market broke the H4 Super Trend’s line. In the future the pair may try to test the 4/8
level. If the price rebounds from this level, the pair will continue falling down.
At the H1 chart the pair is just several tens of pips away from the 8/8
level. There is a possibility that this level may become a starting point of a reverse. If the price breaks the Super Trends’ lines backwards, it will confirm a possible descending movement.
The market continues consolidating, the price may enter an “overbought zone” during the day. Later we can expect Silver to continue growing up towards the +2/8
At the H1 chart the bears were stopped by the H4 Super Trend’s line. If Silver rebounds from the current levels, the price will continue moving upwards. After the instrument breaks the +2/8
level, the lines at the chart will be redrawn.