Murray Math Lines 11.08.2014 (NZD/USD, SILVER)
11.08.2014
Analysis for August 11th, 2014
NZD USD, “New Zealand Dollar vs US Dollar”
New Zealand Dollar is still falling down. Considering that the pair has already rebounded from the daily Super Trend several times and right now is moving below the 3/8 level, the price is expected to continue moving downwards. The target for bears is at the 0/8 level.
As we can see at the H1 chart, sellers are supported by the 4/8 level. In addition to that, Super Trends are still influenced by “dead cross”. I’ve got only one sell order so far, but after the price breaks the 2/8 level downwards I’m planning to increase my short position.
XAG USD, “Silver vs US Dollar”
In case of Silver, the situation is quite the same. The instrument wasn’t above to stay above the daily Super Trend for a long time, and right now is trying to break the 3/8 level downwards. Possibly, the price may break the previous low during Monday and then continue falling down towards the 0/8 level.
At the H1 chart, Silver rebounded from the 3/8 level several times and right now is moving below Super Trends again. In the nearest future, the price may break the 0/8 level and continue falling down inside “oversold zone”. If later the instrument breaks the -2/8 level, the lines at the chart will be redrawn.
RoboForex Analytical Department
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.