Murray Math Lines 16.05.2014 (AUD/USD, GBP/JPY, SILVER)
16.05.2014
Analysis for May 16th, 2014
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is still being corrected between Super Trends, which are still influenced by “bullish cross”. Earlier, price couldn’t stay above the 2/8 level and may not start new ascending movement. However, it’s quite early to start selling until instrument is moving above daily Super Trend.
As we can see at H1 chart, price rebounded from the 4/8 level twice and I decided to open buy order. Most likely, in the nearest future market will continue moving towards the 6/8 level and I’ll move stop into the black.
GBP JPY, “Great Britain Pound vs Japanese Yen”
Pair is still being corrected; earlier Super Trends formed “bearish cross”. Considering that pair is already moving below the 3/8 level, market may try to test the 0/8 one quite soon.
At the H1 chart, bears’ first attempt to break the 0/8 level downwards failed. However, they may try to test and break it again later. If later market breaks the -2/8 level, lines at the chart will be redrawn.
XAG USD, “Silver vs US Dollar”
Bulls weren’t strong enough and right now Silver is again moving below Super Trends, which couldn’t form “bullish cross”. In the future, price is expected to fall down towards the -1/8 level. In this case, I’m planning to increase my short position.
As we can see at H1 chart, price rebounded from the 8/8 level and Super Trends formed “bearish cross”. Price is already moving below the 3/8 level and may continue falling down towards the 0/8 one. Possibly, later instrument may break this level and enter “oversold zone”.
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