Murray Math Lines 03.06.2014 (AUD/USD, EUR/JPY, SILVER)

Analysis for June 3^rd, 2014

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar started new correction; market is still moving below Super Trends. Earlier price couldn’t stay above the 5/8 level and broke the 4/8 one downwards. If later, after local correction, price breaks the 3/8 level and stays below it, pair will continue falling down towards the 0/8 one.



As we can see at H1 chart, pair rebounded from the 7/8 level and started falling down. Super Trends formed “bearish cross”. I’m planning to open additional orders as soon as market breaks Super Trends downwards again.

EUR JPY, “Euro vs Japanese Yen”

Pair rebounded from the 1/8 level twice, which means that it may reverse. In addition to that, price is already moving above Super Trends, which may form “bullish cross” in the nearest future. Closest target for bulls is at the 3/8 level.



As we can see at H1 chart, price is moving inside “overbought zone”. Earlier, Super Trends formed “bullish cross”. Most likely, 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”

Silver’s first attempt to break the 0/8 level failed and it started new correction. Possibly, bears may be supported by H4 Super Trend. Main target for the next several days is at the -2/8 level.



Lines at H4 and H1 charts are completely the same; price is moving between Super Trends. I opened additional sell order at the possible ending of local correction. I’ll move stop into the black as soon as market starts new descending movement.




 
RoboForex Analytical Department