Murray Math Lines 01.10.2012 (NZD/USD, EUR/GBP, SILVER)

Analysis for October 1^st, 2012

NZD/USD

After rebounding from the 6/8 level, the market entered an “overbought zone” once again. Now the bulls have to keep the price above the 8/8 level and the H4 Super Trend’s line. Later, the pair may break the +2/8 level and the lines at the chart will be redrawn.



Despite “bearish cross” formed by Super Trends’ lines earlier, the price is starting moving upwards. Later, the pair will most probably break a local maximum. The lines at the chart may be redrawn within the next several hours.

EUR/GBP

Last week the Super Trends’ lines formed “bearish cross”. At the moment the pair is being corrected. We can’t exclude a possibility that the market may test the daily Super Trend’s line. If the pair rebounds from the indicator line, the price will start falling down towards the 0/8 level.



After rebounding from the 0/8 level, the price started a corrective movement. The bears are supported by the 4/8 level. In the future the pair is expected to start falling down. If the price breaks the -2/8 level, the lines at the chart will be redrawn.

SILVER

After rebounding from the daily Super Trend, the price started moving upwards. The bulls are trying to enter an “overbought zone”. The short-term target is still the +2/8 level.



The price is moving in the middle of the H1 chart, If the market breaks the 5/8 level and keep the price above it, Silver will continue growing up towards the 8/8 one. Later, this level may become a starting point of a correction.