Murray Math Lines 06.08.2014 (AUD/USD, SILVER)
06.08.2014
Analysis for August 06th, 2014
AUD USD, “Australian Dollar vs US Dollar”
Correctional move is continuing on AUDUSD, it has started from 0/8 level. It’s not excluded that daily Supertrend can be tested soon. If sellers will step in the market from the indicator line, downtrend can be continued.
In spite of «bearish cross» formed by lines of Supertrends, price was unable to hold below 1/8. Probably, we will be able to see move to 4/8 in a short-term perspective, it will allow to set stop to breakeven.
SILVER
Silver is continuing to move is descending phase. Price had accepted area below 3/8, it opens a road to 0/8. I’ve opened additional short trade on a local correctional move and moved stop-losses to area of recent high.
Price was unable to break 1/8 for the first time, it increases risks for current trades. However, if market will not rise above 2/8, bearish sentiment will remain strong.
RoboForex Analytical Department
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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.