Murray Math Lines 03.10.2012 (CAD/JPY, EUR/GBP, SILVER)

Analysis for October 3^rd, 2012

CAD/JPY

The CAD/JPY is still being corrected below the daily Super Trend’s line. If the bears are able to keep the price below the 3/8 level, the pair will continue moving downwards. The target for the sellers is at the 0/8 level.



At the H1 chart the pair has already twice rebounded from the 4/8 level. Now the bears have to keep the price below the H4 Super Trend’s line. In the near term, the market may break the -2/8 level and the lines at the chart will be redrawn.

EUR/GBP

The EUR/GBP currency pair started a corrective movement. There is a possibility that the bulls may try to test the 8/8 level. If the market rebounds from this level and keeps the price below the Super Trends’ lines, the pair will start falling down again.,



At the H1 chart the pair is moving near the 6/8 level. Most likely, the price will continue growing up in the nearest future. However, there is a possibility that during the next several days the main trend may change again.

SILVER

Silver is still moving inside an “overbought zone”, the bulls are supported by the Super Trend’s line. In the near term, the price is expected to continue moving upwards. The short-term target is at the 8/8 level.



The instrument is moving in the middle of the H1 chart, a correction is supported by the 4/8 level. If the price rebounds from the current levels, Silver will start growing up towards the 8/8 one.
 



RoboForex Analytical Department