Murray Math Lines 03.09.2014 (EUR/USD, SILVER)
03.09.2014
Analysis for September 3rd, 2014
EUR USD, “Euro vs US Dollar”
After all, Euro has started a new correction from the -1/8 level. Possibly, in the future the price may test the 0/8 level and the daily Super Trend. If later the pair rebounds from these levels, it may be a signal for a new descending movement.
As we can see at the H1 chart, the price broke Super Trends upwards and is trying to find support at the 3/8 level. One of my limit orders worked, and if later the price is able to stay below the 2/8 level, I’m planning to increase my position.
XAG USD, “Silver vs US Dollar”
Silver is starting falling again; the price is testing the 1/8 level. Earlier the price rebounded from the daily Super Trend fast, thus giving an opportunity to open a sell order. The target is still at the 0/8 level.
At the H1 chart, after rebounding from the 1/8 level, Silver headed for “oversold zone”. Possibly, in the nearest future, the price may fall towards the -2/8 level; if later it breaks this level, the lines at the chart will be redrawn.
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