Analysis for October 22nd, 2012
The AUD/JPY currency pair rebounded from the Super Trend’s line. The market is moving above the 5/8
level, so we can expect it to continue growing up towards the 8/8
one. In future, the price may make a reverse at the latter level.
At the H1 chart the pair is again moving above the Super Trends’ lines. There is a possibility that the price may break the 8/8
level within the next several hours and the bulls will enter an “overbought zone”. In the near term, we can expect the pair to break the +2/8
level and the lines at the chart will be redrawn.
At the H4 chart the GBP/CHF currency pair rebounded from the Super Trend’s line, the price continues moving inside an “oversold zone”. Most likely, the bears will reach the -2/8
level within the next several days. If they break it, the lines at the chart will be redrawn.
At the H1 chart the pair is again moving below the 3/8
level. We may assume that the market may reach the 0/8
level by Wednesday. In the future this level may become a starting point of a correction, that’s why Take Profit on all my sell orders is placed there.
The bears are still dominant; they are supported by the Super Trends’ lines. We can’t exclude a possibility that the price may continue moving downwards in the nearest future. The target for the seller is still at the 0/8
At the H1 chart the price is moving below the 3/8
level, thus indicating that the instrument may continue falling down towards the 0/8
one. There is a possibility that Silver may try to test the H4 Super Trend’s line before starting moving downwards.
RoboForex Analytical Department