Murray Math Lines 11.10.2012 (NZD/JPY, USD/CHF, SILVER)
11.10.2012
Analysis for October 11th, 2012
NZD/JPY
The NZD/JPY currency pair is trying to start moving downwards, the bears are supported by the Super Trends’ lines. If the price rebounds from the current levels, the pair will continue falling down towards the 0/8 one.
The pair is moving in the middle of the H1 chart, the bulls are testing the H4 Super Trend’s line. If the market rebounds from the line, the bears will start pushing the price downwards again.
USD/CHF
The pair started a corrective movement from the 2/8 level, right now the price is testing the daily Super Trend’s line. If the market rebounds from the current levels, the price will start growing up. The target for the next several days is the 4/8 level.
At the H1 chart the bears are trying to keep the price below the 3/8 level. If they fail and the pair breaks this level backwards, the bulls will start pushing the price in their direction. The short-term target is at the 8/8 level.
SILVER
The bulls are trying to rebound from the daily Super Trend’s line. If the market is able to keep the price above the 4/8 level, and then above the 5/8 one, Silver will continue growing up. The target for the next several days is the 8/8 level.
The instrument is moving in the middle of the H1 chart. Most likely, the Super Trends’ lines will form “bullish cross” within the next several hours. The forecast of the price movement remains bullish with the target at the 8/8 level.
RoboForex Analytical Department
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