Murray Math Lines 09.07.2013 (AUD/USD, EUR/JPY, SILVER)

Analysis for July 9^th, 2013

AUD/USD

Australian Dollar started a correction. If the price rebounds from the 3/8 level, the pair may start a new descending movement. The target for the bears is still at the 0/8 level.



At the H1 chart we can see, that the correction faced the resistance form the 5/8 level. If the price rebounds from this level, the pair will start falling down again. We can’t exclude a possibility that the market may break the -2/8 level. In this case, the lines at the chart will be redrawn.

EUR/JPY

The situation is unclear. The price started moving upwards, but very slowly, that’s why we can’t exclude a possibility that the correction may continue. This is the reason why I’ve opened a sell order with the stop, which is already in the black, above the 8/8 level.



If the market rebounds from the 7/8 level, then breaks the Super Trends’ lines and keeps the price below them, the bears will return. The closest target is at the 4/8 level.

SILVER

After rebounding from the 0/8 level twice, Silver started a correction. The first target for the bulls will be the 2/8 level. If they succeed in breaking this level, the price will continue growing up.



At the H1 chart, the Super Trends’ lines formed “bullish cross”. Earlier the price rebounded from the 0/8 level. It looks like in the nearest future the instrument is going to grow up a little bit and reach the 4/8 level.



 
RoboForex Analytical Department