Murray Math Lines 04.06.2014 (AUD/USD, EUR/JPY, SILVER)
04.06.2014
Analysis for June 4th, 2014
AUD USD, “Australian Dollar vs US Dollar”
Yesterday Australian Dollar rebounded from daily Super Trend once again; which means that price may start new descending movement. If later price breaks the 3/8 level and stays below it, pair will continue falling down towards the 0/8 one.
At H1 chart, Super Trends are still influenced by “bearish cross”; price is moving in the middle of the chart. If later pair rebounds from the 4/8 level, market may enter “oversold zone” within the next several hours.
EUR JPY, “Euro vs Japanese Yen”
After rebounding from the 1/8 level, pair started new correction. On Tuesday, Super Trends formed “bullish cross”. Closest target for bulls is at the 4/8 level.
As we can see at H1 chart, bulls’ first attempt to break the 8/8 level and enter “overbought zone” failed. Pair is supported by Super Trend: if market rebounds from it, price may break the +2/8 level. In this case, lines at the chart will be redrawn.
XAG USD, “Silver vs US Dollar”
Silver is still consolidating between the 0/8 level and H4 Super Trend. Probably, price may break the 0/8 level and enter “oversold zone” within the next several hours. Closest target is at the -2/8 level, which may be broken as well.
Price is moving in at the bottom of H1 chart. Considering that Silver couldn’t break the 2/8 level, there is strong possibility that it may break the 0/8 one. If later bears break the -2/8 level as well, lines at the chart will be redrawn.
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