Analysis for December 20th, 2012
The pair reached the middle of the chart during a local correction; the price was stopped by the daily Super Trend’s line. If the price rebounds from the current levels, the pair will start a new descending movement towards the 0/8
At the H1 chart the pair is moving near the 4/8
level. If the sellers are able to keep the price below the Super Trends’ lines, the pair will start a new descending movement. The price may enter an “oversold zone” within the next several hours.
It looks like the pair is finishing a local correction; the price is moving between the Super Trends’ lines. If the market is able to keep the price above the H4 Super Trend, the pair will continue growing up.
At the H1 chart a correction is supported by the 3/8
level. If the market breaks the Super Trends’ lines backwards, the price will continue moving upwards. The target for the bulls is at the 8/8
A local correction is still taking place; earlier the Super Trends’ lines formed “bearish cross”. If the price rebounds from the current levels, the pair will continue falling down towards the 0/8
At the H1 chart the pair is moving below the 3/8
level; the sellers are supported by the Super Trends’ lines. In the near term, the price is expected to start falling down again; it may reach the 0/8
level within the next couple of hours.
RoboForex Analytical Department
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