Murrey Math Lines 18.09.2014 (EUR/USD, SILVER)
18.09.2014
Analysis for September 18th, 2014
EUR USD, “Euro vs US Dollar”
After breaking the minimum, Eurodollar continued moving inside “oversold zone”. Possibly, during the day the price may complete a local correction and break the -2/8 level. In this case, the lines at the cart will be redrawn.
As we can see at the H1 chart, the price hasn’t been able to stay below the 5/8 level on the first try. If the pair breaks Super Trend downwards, I’m planning to increase my short position expecting the price to break the 4/8 level and continue falling.
XAG USD, “Silver vs US Dollar”
Silver is also moving inside “oversold zone”. Earlier it was supported by the 0/8 level and the H4 Super Trend. During a local correction, I opened another sell order.
The lines at the H4 and H1 charts are completely the same. In the near term, the price is expected to break the -2/8 level. In this case, the lines at the chart will be redrawn. I’m planning to move my stop to the previous maximum near Super Trend as soon as the price breaks a local minimum.
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