Analysis for June 18th, 2014
AUD USD, “Australian Dollar vs US Dollar”
AUDUSD is probably continuing to consolidate and trades between lines of Super trends. Market tests 6/8 level, in case we see a pullback from this level, growth will be possible. After price accepts area above CT on H4, I plan to add to long position.
At H1 chart, price is located in the lower side of the structure. Price is consolidating near 0/8, which indicates possible beginning of the correction. More significant growth can be initiated after acceptance above 2/8.
GBP JPY, “Great Britain Pound vs Japanese Yen”
GBPJPY is probably returning to bullish scenario. Price is setting new highs, it allowed to move stops and reduce risk. Super trend lines provide support. 8/8 is considered to be a target.
At H1 chart, GBPJPY level 8/8 is broken out and stays in «overbought» area. Before that, sellers were not strong enough to push price to 6/8. It’s not excluded that we will see breakout of +2/8, it may lead to forming new structure.
XAG USD (Silver vs US Dollar)
Silver has pulled back from 4/8, later market has accepted area above Super trend lines. They have formed «bullish cross» before that. If price accepts area above 5/8, it will be a signal to growth to 8/8.
Levels are almost equal on both timeframes. Super trend lines have formed bullish cross, it strengthens power of buyers. Once price breaks out high, I will move my stop to breakeven.
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