Murray Math Lines 05.08.2014 (AUD/USD, SILVER)
05.08.2014
Analysis for August 05th, 2014
AUD USD, “Australian Dollar vs US Dollar”
After pullback from 0/8, AUDUSD has corrected. Price has already accepted area above Supertrend line. Breakout of 2/8 will become the signal for continuation of the correctional move toward daily Supertrend and 3/8 line.
Levels are equal on both timeframes. Superntrend lines have formed a «bullish cross», which also confirms beginning of the correction. Stop-loss for long trade is already in profit below yesterday’s low.
SILVER
Recently, silver has continued to move down, it allowed to place stop-losses to a small profit. Support to sellers is provided by Supertrend lines. Target is considered at 3/8 – my take profit is located there.
At H1 chart, market is traded in «oversold» area. It’s not excluded that 0/8 level will be tested within Tuesday’s trading session. Pullback from that level will be a signal for downtrend to resume and -2/8 level to break.
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