Murray Math Lines 25.08.2014 (EUR/USD, SILVER)
25.08.2014
Analysis for August 25th, 2014
EUR USD, “Euro vs US Dollar”
During the market opening, bears showed an exceptional speed and broke the 0/8 level in one go. Considering that this level may become the starting point of a large correction, I’ve decided to record the profit for one of my sell orders. At the same time, I’m keeping one order in case Euro continues moving downwards.
At the H1 chart, the situation is quite similar. The most possible scenario right now is that the price may start a new correction towards Super Trends. If the pair rebounds from them, bears will keep control over the downtrend. If that is the case, the market may break the 0/8 level and stay inside “oversold zone”.
XAG USD, “Silver vs US Dollar”
Silver is consolidating. Taking into account the fact that reverses hardly ever occur at the 2/8 level, after such long pause it’s quite logical to expect that the price may start falling again towards the 0/8 one. If later the market rebound from this level, bulls may regain the initiative and start a new correction.
At the H1 chart, the market is moving quite slowly in the middle. If later Silver breaks the 3/8 level and stays below it, bears may continue moving downwards to reach the 0/8 one. However, in order to decrease the risks, if the instrument breaks the minimum, I might move the stop loss to the level where the order was opened.
RoboForex Analytical Department
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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.