Murray Math Lines 05.10.2012 (NZD/USD, GBP/CHF, SILVER)

Analysis for October 5^th, 2012

NZD/USD

Yesterday New Zealand Dollar rebounded from the 6/8 level one more time. Right now the bulls are trying to keep the price above the Super Trends’ lines. If they succeed, the pair will continue growing up. After the pair breaks the +2/8 level, the lines at the chart will be redrawn.



At the H1 chart the buyers were supported by the 4/8 level. It looks like the Super Trends’ lines are going to form “bullish cross” during the next several hours. In the near term, the pair is expected to continue growing up towards the 8/8 level or even higher.

GBP/CHF

The bears are trying to keep the price below the 3/8 level and continue pushing the market towards the 0/8 one. During the correction I’ve opened the second sell order. I’ll move the stops on both deals into the black as soon as possible.



At the H1 chart the pair is moving below the 2/8 level, the bears are supported by the Super Trend’s line. If the market rebounds from the current levels, the price will continue moving downwards. The target for the next several days is at the 0/8 level.

SILVER

Silver continues consolidating inside an “overbought zone”. During this week the instrument has rebounded from the H4 Super Trend’s line several times. In the future the price is expected to continue growing up. The target is at the +2/8 level. If the market breaks this level, the lines at the chart will be redrawn.



At the H1 chart the market is moving above the 5/8 level, thus indicating that the price may continue growing up towards the 8/8 one. The bulls are supported by the Super Trends’ lines. We can’t exclude a possibility that one of these days Silver may break a local maximum.



 
RoboForex Analytical Department