Analysis for December 27th, 2012
The EUR/JPY currency pair is moving inside an “overbought zone”; the bulls steadily are pushing the price towards new maximums. The short-term target is at the +2/8
level. In case the market breaks it, the lines at the chart will be redrawn.
At the H1 chart the price is just several tens of pips away from the +2/8
level; the byers are supported by the Super Trend’s line. Most likely, the market will break the +2/8
level during the day and the lines at the chart will be redrawn.
The bears slowed down a little bit. During a local correction I’ve decided to open a new sell order. Most likely, the price will continue moving downwards in the nearest future and reach the 0/8
level within the next several days.
At the H1 chart the pair is consolidating below the 3/8 level; the sellers are supported by the Super Trend’s line. If the price rebounds from the current levels, the pair will continue falling down towards the 0/8
Silver is still consolidating; the H4 Super Trend’s line is too strong for the bulls to break so far. We can see that the price is already moving below the 3/8
level, so we can expect it to continue falling down towards the 0/8
The lines at the H4 and the H1 charts are completely the same. We can’t exclude a possibility that the bears may reach a local minimum before New Year. The target is still at the 0/8
RoboForex Analytical Department