Murray Math Lines 04.10.2013 (AUD/USD, GBP/CHF, SILVER)

Analysis for October 4^th, 2013

AUD/USD

Australian Dollar broke its local maximum and I moved the stops on my buy orders into the black. Later the price is expected to break the 6/8 level. The main target for the bulls is at the 8/8 level.



At the H1 chart, the bulls are trying to keep the price above the 5/8 level. If they succeed and the pair rebounds from the Super Trend, the market will continue growing up towards the 8/8 level.

GBP/CHF

The pair was able to leave an “oversold zone” and right now is moving downwards; earlier the Super Trends formed “bearish cross”. The closest target is at the 6/8 level. If the market breaks it, the price will continue falling down.



At the H1 chart, the bears are trying to break the 3/8 level. If they are able to break it and then keep the price below it, the market will continue moving downwards. In this case, the target will be at the 0/8 level.

SILVER

After breaking the H4 Super Trend, Silver started consolidating. We can’t exclude a possibility that in the nearest future the price may start a new ascending movement and test the 5/8 level and the daily Super Trend.



At the H1 chart we can see, that Silver is moving very close to an “overbought zone”; earlier the Super Trends formed “bullish cross”. Considering that the price rebounded from the 6/8 level, it is expected to break the 8/8 level and may continue growing up towards the +2/8 one.



 
RoboForex Analytical Department