Murray Math Lines 10.10.2012 (EUR/JPY, USD/CHF, SILVER)

Analysis for October 10^th, 2012

EUR/JPY

After rebounding from the 7/8 level, the pair is moving downwards. The Super Trends’ lines formed “bearish cross”. Most likely, the price will continue falling down during the week. We can’t exclude a possibility that the pair may break the 4/8 level.



At the H1 char the pair is being corrected near the 2/8 level, the bears are supported by the Super Trend’s line. Later the price is expected to continue moving downwards. The short-term target is at the ‑2/8 level.

USD/CHF

After rebounding from the 0/8 level, Franc started moving upwards. Yesterday the Super Trends’ lines formed “bullish cross”. Most likely, the price will continue growing up in the nearest future. The target for the next several days is the 4/8 level.



The pair is moving in the middle of the H1 chart, the bulls are supported by the 4/8 level and the Super Trend’s line. If the market rebounds from the current levels, the price will start growing up towards the 8/8 one.

SILVER

Silver is moving near the daily Super Trend’s line. If the market rebounds from the current levels, the price will start moving upwards again. The target for the next several days is the 8/8 level.



At the H1 chart we can see that the 6/8 and 2/8 levels are support/resistance levels respectively. If the bulls are able to break the Super Trends’ lines and keep the price above them, Silver may continue moving towards a local maximum and breach it. Most likely, the 8/8 level will be broken as well.



 
RoboForex Analytical Department