Murrey Math Lines 04.09.2014 (EUR/USD, SILVER)

Analysis for September 4^th, 2014

EUR USD, “Euro vs US Dollar”

Eurodollar is still moving between the -1/8 and 0/8 levels and Super Trends. Possibly, the price may test the 0/8 level: if the pair rebounds from this level, the instrument may start falling again towards the -2/8 one.



As we can see at the H1 chart, the price has already rebounded from the 2/8 twice, which means that the downtrend may resume soon and reduce the possibility that the current correction may continue. However, as long as the price is moving above Super Trends, buyers will still have in their sleeves a scenario with a deeper correction.

XAG USD, “Silver vs US Dollar”

Silver is still consolidating between the 1/8 level and the H4 Super Trend. Taking into account that below them there is quite a strong level, the 0/8 one, it may be considered as the main target for the next several days. After reaching it, the market may start a new correction.



At the H1 chart, the price is stuck between the 0/8 and 1/8 levels. Possibly, bears may enter “oversold zone” during the day and then continue pushing the market towards the -2/8 level. If later they break this level, the lines at the chart will be redrawn.



 
RoboForex Analytical Department