Murray Math Lines 06.05.2014 (AUD/USD, EUR/GBP, SILVER)
06.05.2014
Analysis for May 6th, 2014
AUD USD, “Australian Dollar vs US Dollar”
Bulls still haven’t been able to break daily Super Trend. In order to decreased the risks, I’ve moved stop on my buy order into the black. In addition to that, I’ve placed pending sell order in case price isn’t able to stay above daily Super Trend.
As we can see at H1 chart, Super Trends are inside “green zone”; price is trying to stay above the 5/8 level. Short-term target for bulls is at the 8/8 level. If they break it, market will continue growing up.
EUR GBP, “Euro vs Great Britain Pound”
Pair is still consolidating; bears are supported by daily Super Trend and the 2/8 level. Possibly, in the nearest future pair may test the 0/8 level. Probably, price may break it and continue falling towards the ‑2/8 one.
As we can see at H1 chart, yesterday pair rebounded from the 3/8 level. If price is able to stay below Super Trends in the nearest future, pair will break the -2/8 level. In this case, lines at the chart will be redrawn.
XAG USD, “Silver vs US Dollar”
After rebounding from the 0/8 level, Silver started moving upwards. It looks like Super Trends are going to form “bullish cross” in the nearest future. Closest target for bulls is at the 4/8 level; if they break it, instrument will continue growing up.
Silver is moving in the middle of H1 chart. If later price breaks Super Trends and the 5/8 level upwards, instrument will continue growing up towards the 8/8 one.
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