Analysis for August 01st, 2014
AUD USD, “Australian Dollar vs US Dollar”
Recently, AUDUSD had touched 0/8 level and take profit order was executed in my trade. Price now is testing 0/8 again and in case it pulls back from this level, correctional move to 2/8 can follow.
At H1 we see the same structure as at H4. It’s not excluded that pullback from 0/8 will happen in a few hours and price will be able to hold above Supertrend lines before trading week is finished.
SILVER
Silver is trying to resume downtrend and testing 4/8 level. Before that, we could see series of pullbacks from 5/8 and acceptance below Supertrend line. Stops my my trades are set to breakeven point, I expect that 3/8 level will be achieved.
At H1 chart, price is located at the lower side of the whole structure. Supertrend line is providing support. Probably, 0/8 level can be broken today and price can go down in the «overbought» area.
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