Murray Math Lines 20.05.2014 (AUD/USD, EUR/GBP, SILVER)
20.05.2014
Analysis for May 20th, 2014
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar continues falling down; Take Profit on my sell order worked. If pair rebounds from current levels, market will start new ascending movement. However, it’s quite risky to buy right now, that’s why I’ve placed pending order.
As we can see at H1 chart, price is trying to stay inside “oversold zone”. Possibly, bears may fail and price may start growing up again. If price breaks Super Trends upwards, up-trend will continue.
EUR GBP, “Euro vs Great Britain Pound”
Pair is still consolidating; earlier market rebounded from the 4/8 level and couldn’t reach daily Super Trend. If later price is able to break the 3/8 level downwards, instrument may continue falling down towards the 0/8 one.
As we can see at H1 chart, current descending movement is supported by Super Trends, which earlier formed “bearish cross”. Possibly, in the nearest future bars may try to break the 0/8 level and enter “oversold zone”.
XAG USD, “Silver vs US Dollar”
Yesterday, Silver rebounded from daily Super Trend and right now is trying to stay below the 3/8 level. I’m holding my sell order with target at the 0/8 level. If later price breaks this level, instrument will continue falling down.
As we can see at H1 chart, Super Trends are influenced by “bearish cross”. Considering that price is already moving below the 3/8 level, Silver may reach the 0/8 one during the next several days. Later, instrument may break this level as well.
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