Murray Math Lines 04.10.2012 (NZD/JPY, GBP/CHF, SILVER)

Analysis for October 4^th, 2012

NZD/JPY

At the H4 chart the NZD/JPY currency pair is moving between the Super Trends’ lines. Earlier the price rebounded from the 8/8 level. If the pair rebounds from the current levels, the price will start falling down towards the 0/8 one.



At the H1 chart the market is being corrected. If the bears are supported by the Super Trend’s line and the price makes a reverse, the pair will start moving downwards. The short-term target is at the 0/8 level.

GBP/CHF

The GBP/CHF currency pair is being corrected, but considering “bearish cross” formed earlier, we can expect the price start moving downwards. The target is at the 0/8 level. If the market keeps the price below the 3/8 level, it will confirm the continuation of a local down-trend.



At the H1 chart the pair is being corrected below the 3/8 level, the bears are supported by the Super Trend’s line. If the price rebounds from the current levels, the pair may start falling down towards the 0/8 one.

SILVER

Silver is still consolidating inside an “overbought zone”, the bulls are supported by the H4 Super Trend’s line. Most likely, the instrument will start moving upwards in the nearest future. The target is at the +2/8 level.



At the H1 chart the market is trying to keep the price above the 5/8 level once again. If the bulls succeed, Silver will start moving upwards. The target for the next several hours is at the 8/8 level, which later may become a starting point of a new correction.



 
RoboForex Analytical Department