Murray Math Lines 19.05.2014 (AUD/USD, GBP/JPY, SILVER)
19.05.2014
Analysis for May 19th, 2014
AUD USD, “Australian Dollar vs US Dollar”
I closed my buy orders and opened sell ones. Earlier, price couldn’t stay above the 2/8 level and may not start new ascending movement. However, if later pair rebounds from daily Super Trend, bulls will have a chance to return to the market.
As we can see at H1 chart, price rebounded from the 8/8 level and Super Trends formed “bearish cross”. Most likely, during the next several days market will reach new minimums. Future scenario depends on how the market will move at the 2/8 level.
GBP JPY, “Great Britain Pound vs Japanese Yen”
Pair is still consolidating. Earlier price broke the 4/8 level and then Super Trends formed “bearish cross”. Considering that pair is already moving below the 3/8 level, next target is at the 0/8 one.
At the H1 chart, bears haven’t been able to break the 0/8 level and enter “oversold zone”; they are supported by Super Trends. Possibly, in the nearest future market may break the -2/8 level. In this case, lines at the chart will be redrawn.
XAG USD, “Silver vs US Dollar”
Silver rebounded from the 6/8 level and right now is moving below Super Trends, which are still influenced by “bearish cross”. In the future, after local correction, price is expected to continue falling down towards the 0/8 level and even break it.
As we can see at H1 chart, after rebounding from the 1/8 level, Silver started new correction. If later price rebounds from the 4/8 level, it will be a strong bearish signal. After instrument breaks Super Trends downwards, I’ll increase my short position.
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.