Murray Math Lines 12.08.2013 (AUD/USD, EUR/GBP, SILVER)

Analysis for August 12^th, 2013

AUD/USD

After rebounding from the 1/8 level, Australian Dollar started moving upwards very fast. My first Take Profit worked at the 7/8 level. I’m keeping my second order in case the price continues growing up towards the 8/8 level.



The lines at the H4 and H1 charts are completely the same; the bulls are supported by the Super Trends. We can’t exclude a possibility that the price may reach the 8/8 level during the day.

EUR/GBP

The pair is consolidating near the 5/8 level. Earlier the bulls weren’t able to reach the 8/8 level and the price started a rapid descending movement. The closest target is at the 4/8 level: if the pair breaks it, the market will continue falling down.



The pair is moving in the lower part of the H1 chart; this movement is supported by the Super Trends. Considering that the pair is already moving below the 3/8 level, it may continue falling down towards the 0/8 level.

SILVER

Silver started moving upwards very fast, just as expected. During a local correction, I opened one more buy order. The target is at the 8/8 level.



At the H1 chart, the bulls are trying to enter an “overbought zone”; the price may break the 8/8 level during the next several hours. If later the pair breaks the +2/8 level, the lines at the chat will be redrawn.



 
RoboForex Analytical Department