Analysis for May 8th, 2013
USD/CAD
At the H4 chart of the USD/CAD currency pair, the Alligator is moving downwards. The indicators are in the red zone; the price is forming a bullish fractal; there is a Squat bar on the MFI. I’m keeping my sell order opened with the target below a bearish fractal; a protective stop is above the Alligator’s teeth.
At the H1 chart of the USD/CAD currency pair, the Alligator is moving downwards. AO and AC indicators are in the grey zone; there are Squat bars on the MFI. The price is forming a bullish fractal near the Alligator’s teeth.
NZD/USD
At the H4 chart of the NZD/USD currency pair, the Alligator is opening its mouth downwards. The angle of angulation is open; the indicators are in the red zone; the price finished a bearish fractal; there might be a Squat bar on the MFI. I’m staying out of the market until the price completes a bullish fractal.
At the H1 chart of the NZD/USD currency pair, the Alligator is moving downwards. AO and AC indicators are in the grey zone; there are no Squat bars on the MFI. A bullish fractal may go through the Alligator’s mouth, but is quite unlikely to make it reverse.
RoboForex Analytical Department