Murray Math Lines 10.10.2013 (AUD/USD, EUR/GBP, SILVER)

Analysis for October 10^th, 2013

AUD/USD

Australian Dollar is being corrected. If the pair rebounds from the H4 Super Trend, the market will start a new ascending movement. Later the price may break the maximum and reach the 8/8 level.



The pair is moving in the middle of the H1 chart. To continue pushing the price upwards, the bulls must keep it above the 5/8 level and break the Super Trends. There is a possibility that they may succeed in doing it during the next several hours.

EUR/GBP

The pair is also being corrected; the price is supported by the H4 Super Trend. Earlier the Super Trends formed “bullish cross”. During the current correction, I opened one more buy order with the target at the 4/8 level.



At the H1 chart we can see, that the price is moving close to an “overbought zone”. If the pair rebounds from the Super Trend, the price may break the 8/8 level. After the market breaks the +2/8 level, the lines at the chart will be redrawn.

SILVER

I closed my buy order and opened a sell one. The price is moving below the Super Trends; a possible target is at the 1/8 level. If the market is able to break the 3/8 level and then keep the price below it, the bears will return to the market.



At the H1 chart we can see, that the Super Trends formed “bearish cross”. During the correction, I opened a sell order with the stop above the +2/8 level. I’ll move the stop into the black as soon as the price breaks the minimum.



 
RoboForex Analytical Department