Murray Math Lines 28.09.2012 (NZD/USD, EUR/GBP, SILVER)

Analysis for September 28^th, 2012

NZD/USD

After rebounding from the daily Super Trend’s line, the market entered an “overbought zone”. Most likely, in the nearest future the price will continue growing up. If the pair breaks the +2/8 level, the lines at the chart will be redrawn.



At the H1 chart the price is also moving inside an “overbought zone“. Yesterday the Super Trends’ lines formed “bullish cross”. In the near term, we can expect the pair to break the +2/8 level and the lines at the chart will be redrawn.

EUR/GBP

After rebounding from the 4/8 level, the EUR/GBP currency pair started a corrective movement. Earlier the Super Trends’ lines formed “bearish cross”. If the price rebounds from the current levels, the pair will start falling down again. The short-term target is at the 0/8 level.



Yesterday the market couldn’t move lower than the 0/8 level. The price may rebound from the 2/8 level and if it does, the pair will start moving downwards again. After the price breaks the -2/8 level, the lines at the chart will be redrawn.

SILVER

After rebounding form the daily Super Trend’s line, Silver started growing up. We can see that the market is still moving inside an “overbought zone”. Most likely, in the nearest future the instrument will continue growing up. If the price breaks the +2/8 level, the lines at the chart will be redrawn.



At the H1 chart the bulls are trying to break the 5/8 level. If the market keeps the price above this level, Silver will continue growing up. The price movement is supported by the Super Trends’ lines. The target for the next several days is the 8/8 level.