Murray Math Lines 09.05.2014 (AUD/USD, EUR/JPY, SILVER)
09.05.2014
Analysis for May 9th, 2014
AUD USD, “Australian Dollar vs US Dollar”
After rebounding from Super Trends, which formed “bearish cross” earlier, Australian Dollar continued growing up and reached new maximum. Target for the next several days is at the 8/8 level: if price rebounds from it, market will start new correction.
As we can see at H1 chart, pair is moving close to “overbought zone”. Possibly, bulls may break the 8/8 level during Friday. If later they break the +2/8 level as well, lines at the chart will be redrawn.
EUR JPY, “Euro vs Japanese Yen”
Pair finally stopped consolidating and Super Trends formed “bearish cross”. If later price breaks the 0/8 level downwards, market will continue falling down to break the -2/8 one as well. In this case, lines at the chart will be redrawn.
At H1 chart, all Super Trends are inside “red zone”. Pair is unlikely to move any higher than the 2/8 level. If later price rebounds from this level, instrument will continue falling down to break the -2/8 one.
XAG USD, “Silver vs US Dollar”
Yesterday Silver started correction. Market is moving below Super Trends again, but in the future bulls may try to break them upwards. I’ll increase my long position after price breaks the 4/8 level.
The lines at the H4 and H1 charts are completely the same; local correction is supported by Super Trends. If later price breaks them, market may start new ascending movement towards the 8/8 level.
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