Murrey Math Lines 09.09.2014 (EUR/USD, SILVER)

Analysis for September 9^th, 2014

EUR USD, “Euro vs US Dollar”

Eurodollar has been able to stay inside “oversold zone”. Possibly, the -1/8 level may become a starting point of a correction towards the 0/8 one: if the price rebounds from the latter level, it may resume falling. The main target is still at the -2/8 level.



As we can see at the H1 chart, the price hasn’t been able to stay below the 3/8 level, which is why the pair may start a correction in the nearest future. At the same time, I’m planning to continue holding my sell orders while the price is moving between Super Trends.

XAG USD, “Silver vs US Dollar”

In case of Silver, bears have managed to break the 1/8 level after all. Earlier the price rebounded from the H4 Super Trend. The next target for sellers is at the 0/8 level; after reaching it, the market may start a correction.



At the H1 chart, on one hand, the price faced resistance from the 1/8 level, but on the other hand – it was supported by Super Trend, from which Silver started falling several times in the past. The target for the next several days is at the 0/8 level.



 
RoboForex Analytical Department