Murray Math Lines 25.04.2012 (USD/CAD, EUR/GBP, SILVER)

Analysis for April 25^th, 2012

USD/CAD

After rebounding from the daily Super Trend’s line, Canadian Dollar reached a new local minimum. I keep holding two sell orders. If the market stays below the 3/8 level, the price will continue falling down towards the 0/8 one.



At the H1 chart the bears got very close to an “oversold zone”, the down-trend is supported by the Super Trend’s line. Most likely, the price will break the -2/8 level during the day and the lines at the chart will be redrawn.

EUR/GBP

The correction started. The price has broken the H4 Super Trend’s line, but is unlikely grow up much. The correction may continue for the next several days, but after that the bears will regain control of the situation.



At the H1 chart the 5/8 level turned out to be one of the resistance levels for the correction. If the bulls break it, the price will test the H4 Super Trend’s line. If the price rebounds from the line, the current descending trend will continue.

SILVER

After breaking the 0/8 level, Silver is moving inside an “oversold zone”, the bears are supported by the H4 Super Trend’s line. We can’t exclude a possibility that the price may continue falling down towards the -2/8 level in the nearest future.



At the H1 chart the market is moving below the 3/8 level. If the price rebounds from the Super Trend’s line, the current down-trend will continue. The target for the bears is the 0/8 level, where Take Profit on sell order is placed.