Murray Math Lines 13.01.2014 (AUD/USD, EUR/JPY, SILVER)

Analysis for January 13^th, 2014

AUD/USD

Correction turned out to be deeper than we expected; market formed bearish Wolfe Wave, that’s why price may yet continue falling down. I opened quite a risky sell order and plan to move stop into the black right after pair rebounds from Wolfe Wave’s upper border.



At H1 chart we can see, that bulls have already reached the 8/8 level. If pair rebounds from it during the day, bears will return to the market. Closest target is at the 6/8 level: if price breaks it, pair will continue falling down.

EUR/JPY

Right after the market opening, pair reached new minimum and I moved stop on my order into the black. I’m planning to close my sell order using Take Profit at the 2/8 level. However, if price breaks this level, I may open sell orders again.



At H1 chart, Super Trends formed “bearish cross”; earlier price rebounded from the 7/8 level several times. Right now, market is being corrected, but may start new descending movement in the nearest future.

SILVER

Silver is moving upwards and trying to rebound from the 8/8 level. In addition to that, price is very close to the already tested trend line, which means that instrument may start, at least, new local descending movement.



The lines at the H4 and H1 charts are completely the same. If price is able to stay below Super Trends and later break the 4/8 level, I’ll increase my short position. However, this trade is quite risky, that’s why I’m planning to move stop into the black right after instrument starts moving downwards.



 
RoboForex Analytical Department