Murray Math Lines 04.08.2014 (AUD/USD, SILVER)

Analysis for August 04^th, 2014

AUD USD, “Australian Dollar vs US Dollar”

Friday’s long position on a pullback from 0/8 was successful and market has given me opportunity to move stop to breakeven. After that price can move to 3/8 and daily Supertrend. In case we see pullback from that level, downtrend can be resumed.



At H1 chart, we see the same picture as at higher timeframe. It’s not exluded that Supertrend lines will build a «bullish cross» in a few hours. After price violates recent high, I will set my stop loss to breakeven.


 

SILVER

Sellers were unable to push price below 4/8. Probably, support from Supertrend line will lead to another attempt to break that level. In case it is successful, road to 3/8 will be opened.



At H1 timeframe, I will watch pullback from 2/8 and line of H4 Supertrend. If it happens, -2/8 level can be violated very soon, it will change the whole structure.




RoboForex Analytical Department