Analysis for June 7th, 2013
USD/CAD
At the H4 chart of the USD/CAD currency pair, the Alligator opened its mouth downwards. The price is forming a bullish fractal; the indicators are in the grey zone; there is a Fade bar on the MFI, but might be a Squat one too. I’m keeping my order; a protective stop is close to the Alligator’s teeth.
At the H1 chart of the USD/CAD currency pair, the Alligator is moving downwards. The price is finishing a bearish fractal; AO and AC indicators are in the red zone; there is a Fade bar on the MFI and might be a Squat one too. I’ll decide where to place Take Profit as soon as the price finishes a bullish fractal.
NZD/USD
At the H4 chart of the NZD/USD currency pair, the Alligator is closing its mouth. The price is forming a bearish fractal; AO and AC indicators are in the grey zone; there is a Fade bar on the MFI, but might be a Squat one too. A new bullish fractal may also break the Alligator’s mouth.
At the H1 chart of the NZD/USD currency pair, the Alligator is sleeping. The price is finishing a bullish fractal; the indicators are near the balance line; there is a Green bar on the MFI and might be a Squat one too. I’m planning to open a buy order after the price completes two equidistant fractals.
RoboForex Analytical Department