Murray Math Lines 26.08.2014 (EUR/USD, SILVER)

Analysis for August 26^th, 2014

EUR USD, “Euro vs US Dollar”

After reaching the 0/8 level, Eurodollar started consolidating. However, the pair hasn’t been able to move higher that the H4 Super Trend, which means that bulls are weak and the downtrend may continue quite soon. If the market breaks the 0/8 level, the short-term target will be at the -2/8 one.



As we can see at the H1 chart, the pair is also moving at the bottom, but between Super Trends, which formed “bearish cross” earlier. Possibly, the current correction may later continue up to the 2/8 level; if the pair rebounds from this level, it will be more serious signal for a new descending movement.

XAG USD, “Silver vs US Dollar”

In case of Silver, the situation hasn’t changed much over the last 24 hours. The price is still consolidating near the 2/8 level. If bears are strong enough to keep the price below the H4 Super Trend, I’m planning to increase my short position.



As we can see at the H1 chart, the market is testing the 4/8 level again, form which bears rebounded several times already. Most likely, the market will rebound from the level this time again; however, we can‘t exclude a possibility that the instrument may move above it for a while.



 
RoboForex Analytical Department