Analysis for July 24th, 2013
USD/CAD
At the H4 chart of the USD/CAD currency pair, the Alligator is still moving downwards. The indicators are in the grey zone, AC is very close to the balance line; there is a Fade bar on the MFI. I’m keeping my sell order; a protective stop is close to the Alligator’s teeth (red line).
At the H1 chart of the USD/CAD currency pair, the Alligator is also moving downwards. The price is forming a bearish fractal; AO and AC are in the red zone; there is a Fade bar on the MFI, but might be a Squat one too. The price is expected to fall down towards Take Profit.
NZD/USD
At the H4 chart of the NZD/USD currency pair, the Alligator is moving upwards. The price is forming a bullish fractal; AO and AC are in the grey zone; there is a Fade bar on the MFI and might be a Squat one too. I’m keeping my buy order; a protective stop is below the Alligator’s teeth (red line).
At the H1 chart of the NZD/USD currency pair, the Alligator closed its mouth. There is a divergence with AO, but both indicators are in the green zone; the price is forming a bullish fractal; there is a Squat bar on the MFI. The price may reach Take Profit.
RoboForex Analytical Department