Forex Trading Machine
AUD/USD
Australian Dollar is still falling down. We can expect the price to continue moving downwards during Friday, the main target remains at the 0/8 level. Later this level may become a starting point of the correction.
At the H1 chart the local correction is taking place, the bears 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 one.
GBP/CHF
At the H4 chart the GBP/CHF currency pair is still being corrected. We can’t exclude a possibility that the bears may try to enter an “oversold zone” on Friday. Later the price may continue falling down up to the -2/8level.
The bears were supported by the 2/8 level and the pair started falling down again. Now they have to keep the price below the Super Trends’ lines. Most likely, the pair will break the -2/8 level within the next several days and the lines at the chart will be redrawn.
EUR/GBP
The bulls were supported by the 3/8 level twice, yesterday the price rebounded from it once again. If the bears are able to keep the price above the H4 Super Trend’s line, the pair will continue growing up. The closest target is the 7/8 level.
At the H1 chart the price movement is supported by the 6/8 level, thus indicating that the pair may start growing up again. The bears may enter an “overbought zone” during the day. If the price breaks the +2/8level, the lines at the chart will be redrawn.
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