Murray Math Lines 05.09.2012 (NZD/USD, EUR/JPY, SILVER)

Analysis for September 5^th, 2012

NZD/USD

New Zealand Dollar is still moving downwards, the bears are supported by the H4 Super Trend. Taking into consideration the fact that the price is below the 3/8 level, we can expect it to continue falling down towards the 0/8 one.



At the H1 chart the market has entered an “oversold zone”. Most likely, the price will try to test the 0/8 level once again. If the price rebounds from the level, the pair will continue falling down. After the market breaks the -2/8 level, the lines at the chart will be redrawn.

EUR/JPY

The consolidation continues. The bears are trying to keep the price below the 6/8 level again. Earlier the market couldn’t stay below this level for a long time. If the pair rebounds from the current levels, it may start moving upwards again.



At the H1 chart the bears faced the resistance at the 2/8 level again. If later the price breaks the Super Trends’ lines backwards, the pair may continue growing up. The closest target is the 8/8 level.

SILVER

Silver is being corrected inside an “overbought zone”, the bulls are supported by the Super Trend’s line and the +1/8 level. If the price rebounds from the current levels, the pair will break the +2/8 level and the lines at the chart will be redrawn.



At the H1 chart the instrument is consolidating between the 7/8 and 6/8 levels. We can’t exclude a possibility that the price may start growing up during the day. The short-term target for the buyers is the 8/8 level.