Murray Math Lines 02.10.2013 (AUD/USD, EUR/GBP, SILVER)

Analysis for October 2^nd, 2013

AUD/USD

After making a fast ascending movement, Australian Dollar started quite a long correction. We can’t exclude a possibility that the market may try to test the daily Super Trend once again. if the price rebounds from it, the pair will start a new ascending movement.



At the H1 chart, the market couldn’t grow up higher than the 5/8 level and, as a result, rebounded from it. If the bulls are able to keep the price above the 4/8 level, they may become more dominant. As soon as it happens, I’ll increase my long positions.

EUR/GBP

The pair continues falling down. Right now, the price is moving below the 1/8 level and supported by the H4 Super Trend. Most likely, in the nearest future the price will continue falling down towards the 0/8 level.



At the H1 chart we can see, that the price is moving inside an “oversold zone”; the Super Trends are still in the “red zone”. If later the market breaks the -2/8 level, the lines at the chart will be redrawn.

SILVER

After several weeks of consolidation, Silver started moving downwards. If later the market is able to keep the price below the 3/8 level, the instrument will continue falling down towards the 0/8 one.



At the H1 chart we can see, that the price reached the 1/8 level and started a new correction. If the price rebounds from the Super Trends, the instrument will start a new descending movement. After the price breaks the -2/8 level, the lines at the chart will be redrawn.



 
RoboForex Analytical Department