Murray Math Lines 07.10.2013 (AUD/USD, NZD/JPY, SILVER)

Analysis for October 7^th, 2013

AUD/USD

A local correction is taking place. If later the price rebounds from the H4 Super Trend, the market will start a new ascending movement. The main target is still at the 8/8 level.



The pair is moving in the middle of the H1 chart, between the Super Trends. If the bulls are able to keep the price above the 5/8 level, the market will continue growing up. In this case, the target will be at the 8/8 level.

NZD/JPY

The pair is still being corrected. If the price breaks the Super Trends, the bulls will return to the market. After the price breaks the 5/8 level and stays above it, the pair will continue growing up towards the 0/8 one.



At the H1 chart, the bulls faced the resistance from the 1/8 level again. If the market rebounds from it one more time, the pair may make a reverse upwards. I’ll increase my long positions as soon as the pair breaks the 4/8 level.

SILVER

Silver continues consolidating; the price is supported by the H4 Super Trend. We can’t exclude a possibility that in the nearest future the price may test the 5/8 level and the daily Super Trend. If it breaks them, the instrument will continue growing up.



At the H1 chart we can see, that Silver is trying to break the 8/8 level and enter an “overbought zone”. Earlier the Super Trends formed “bullish cross”. I’ll move the stop into the black as soon as the price starts moving upwards.



 
RoboForex Analytical Department