Analysis for October 18th, 2012
Yesterday the Super Trends’ lines formed “bullish cross”, the market is trying to keep the price above the 2/8
level. Later the pair is expected to continue growing up towards the 4/8
level. If the bulls break it, the price may move much higher.
The lines at the H4 and the H1 charts are completely the same. An ascending movement is supported by the Super Trends’ lines. If the price rebounds from the current levels, the pair will continue growing up.
On Wednesday the Super Trends’ lines formed “bullish cross” at the H4 chart, the bulls are trying to keep the price above the 5/8
level. If they succeed in doing it, the price will continue growing up towards the 8/8
At the H1 chart we can see that the bulls are dominating. An ascending movement is supported by the Super Trends’ lines. Most likely, the pair will reach the 8/8
level during the day. If the price breaks this level, the pair will continue growing up.
The GBP/CHF currency pair is still consolidating near the lower border of an “oversold zone”, the bears are supported by the H4 Super Trend’s line. Most likely, in the nearest the price will continue falling towards the -2/8
The pair is moving in the lower part of the H1 chart. There is a possibility that the bears may try to test the H4 Super Trend’s line one more time during Thursday. If the price rebounds from the line, the pair will continue falling down. After the market breaks the -2/8
level, the lines at the chart will be redrawn.
RoboForex Analytical Department