Murray Math Lines 05.06.2014 (AUD/USD, EUR/JPY, SILVER)
05.06.2014
Analysis for June 5th, 2014
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is still moving below daily Super Trend. If later price breaks the 3/8 level and stays below it, pair will continue falling down towards the 0/8 one. Future scenario depends on how price will move at this level.
Price is moving in the middle of H1 chart, between Super Trends. If later pair is able to stay below the 3/8 level, bears will start new descending movement.
EUR JPY, “Euro vs Japanese Yen”
After rebounding from the 1/8 level, pair started new correction, and then Super Trends formed “bullish cross”. I opened buy order when pair rebounded from Super Trend; target is at the 4/8 level; price may reach it in several days.
As we can see at H1 chart, price rebounded from the 6/8 level and Super Trend, which means that it may start growing up again. Possibly, price may break the 8/8 level during the day and enter “overbought zone”.
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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