Murrey Math Lines 15.09.2014 (EUR/USD, SILVER)
15.09.2014
Analysis for September 15th, 2014
EUR USD, “Euro vs US Dollar”
It looks like bulls’ attempt to keep the price above the 0/8 level failed. I’m planning to increase my short position right after the pair breaks the H4 Super Trends and stays below it. Later the price may break the -2/8 level. In this case, the lines at the chart will be redrawn.
At the H1 chart, the price is moving below the 4/8 level. If price is able to stay below the 3/8 level, it may continue falling. After it does, the market may continue falling and reach the 0/8 level in the nearest future.
XAG USD, “Silver vs US Dollar”
In case of Silver, take profits on my sell orders worked last week. However, considering that the price is moving inside “oversold zone”, I’m starting to restore my short position. The closest target for bears is at the -2/8.
At the H1 chart, the price is moving below the 0/8 level; bears are supported by Super Trends. I’ll move the stop on my sell order to breakeven as soon as the price reaches a new low.
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