Analysis for December 21st, 2012
It looks like the pair is completing a correction; the market is moving between the Super Trends’ lines. There is a possibility that the price may enter an “overbought zone” in the nearest future. After breaking the 8/8
level, the bulls will continue pushing the price towards their next target at the +2/8
The pair reached the 6/8
level. If the price rebounds from it, the price may start a new ascending movement. If later the market breaks the +2/8
level, the lines at the chart will be redrawn.
The GBP/CHF currency pair is still being corrected; the bears are supported by the H4 Super Trend’s line. Most likely, the price will continue moving downwards in the future. The target for the bears is at the 0/8
At the H1 chart the pair is moving below the 3/8
level. The price tested this level several times. If the market rebounds from it, the pair will continue falling down towards the 0/8
After making a rapid descending movement yesterday, Silver started a correction. If the market rebounds from the current levels, the pair will continue falling down towards the 0/8
The lines at the H4 and the H1 charts are completely the same; the bears are supported by the Super Trends’ lines. Most likely, the instrument will reach the 0/8
level within the next couple of hours.
RoboForex Analytical Department