Murray Math Lines 20.01.2014 (AUD/USD, CAD/CHF, SILVER)

Analysis for January 20^th, 2014

AUD/USD

Australian Dollar is still moving downwards and trying to stay inside “oversold zone”; price is supported by H4 Super Trend. In the near term, pair is expected to continue moving towards the -2/8 level. If market breaks it, lines at the chart will be redrawn.



Pair is moving in lower part of H1 chart. Current correction may yet continue during Monday, but price is unlikely to move lower than the 1/8 level. I’ll move stop on my orders close to latest maximum as soon as pair reaches new minimum.

CAD/CHF

Pair is making the second attempt to stay below the 0/8 level. I’ve decided to open sell order while price is being corrected. Later I’m planning to increase my position, in case market breaks H4 Super Trend. After pair breaks the -2/8 level, lines at the chart will be redrawn.



At H1 chart we can see, that bulls were able to reach the 5/8 level. If later bears are able to keep price below the 3/8 level, pair will continue falling down. In this case, their first target will be at the 0/8 level.

SILVER

Silver is trying to leave “overbought zone”. At H4 chart, we can see bearish Wolfe Wave and head & shoulders pattern from classical technical analysis.



The lines at the H4 and H1 charts are completely the same. Considering that Super Trends formed “bearish cross”, then in order to start trading more actively, we recommend to wait until market breaks Super Trends and keep price below them. If it happens, I’ll open my second sell order during correction.



 
RoboForex Analytical Department