Murray Math Lines 02.05.2014 (AUD/USD, EUR/GBP, SILVER)
02.05.2014
Analysis for May 2nd, 2014
AUD USD, “Australian Dollar vs US Dollar”
Yesterday Australian Dollar rebounded from daily Super Trend and right now is trying to stay below the 4/8 level. I’ve opened sell order with stop placed above latest maximums. The first target is at the 2/8 level, which is confirmed by daily timeframe.
As we can see at H1 chart, pair is moving below the 0/8 level again. Possibly, Super Trends may form “bearish cross” during the day. In the future, price may break the -2/8 level. In this case, lines at the chart will be redrawn.
EUR GBP, “Euro vs Great Britain Pound”
Pair rebounded from Super Trends several times, that’s why I’ve decided to close my buy order and open sell one. Probably, later pair may break the 0/8 level. In this case, the next target for bears will be at the -1/8 one.
As we can see at H1 chart, pair is moving inside “oversold zone”. Earlier, price rebounded from the 2/8 level. Later price may break the -2/8 level and lines at the chart will be redrawn.
XAG USD, “Silver vs US Dollar”
Yesterday Silver broke local minimum, but couldn’t fall lower than the 0/8 level: price rebounded from it and i decided to open buy order. Closest target is at the 2/8 level. If instrument breaks this level, market will continue growing up.
As we can see at H1 chart, price also rebounded from the 0/8 level. Right now, market is moving below Super Trends, but if it breaks them upwards, I’ll open additional buy order. Short-term target is at the 4/8 level.
RoboForex Analytical Department
Attention!
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.