Murray Math Lines 09.10.2012 (EUR/JPY, USD/CHF, SILVER)
09.10.2012
Analysis for October 9th, 2012
EUR/JPY
After rebounding from the 7/8 level, the pair is moving between the Super Trends’ lines. If the bears are able to keep the price below the daily Super trend, the pair will continue moving downwards. After the price breaks a local minimum I’ll move the stop into the black.
The price is moving in the middle of the H1 chat. Earlier the Super Trends’ lines formed “bearish cross”. If the pair breaks the H1 Super Trend backwards, the price will start falling down again. The short-term target is at the 0/8 level.
USD/CHF
Yesterday the pair rebounded from the 0/8 level for the second time. At the moment Franc is moving between the Super Trends’ lines. We may assume that this movement is a correction, at least. The short-term target is the 3/8 level.
The Super Trends’ lines formed “bearish cross” on Monday. If the price rebounds from the current levels, the pair will continue moving upwards. I’ll move the stop on buy order into the black as soon as possible.
SILVER
Right now the market is moving near the daily Super Trend’s line. If the price rebounds from the line, Silver may start growing up again. Yesterday the lines at the chat were redrawn. The target for the next several day is the 8/8 level.
After rebounding from the 2/8 level, the instrument is trying to start an ascending movement. If the bulls are able to keep the price above the Super Trends’ lines, they may continue pushing the market in their direction. Silver may break a local maximum during the week.
RoboForex Analytical Department
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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.