Murray Math Lines 11.10.2013 (AUD/USD, GBP/CHF, SILVER)
11.10.2013
Analysis for October 11th, 2013
AUD/USD
Australian Dollar continues moving upwards; the pair managed to rebound from the H4 Super Trend. Most likely, the bulls will beak the maximum in the nearest future and continue pushing the price upwards to reach the 8/8 level.
At the H1 chart, the price is moving upwards, and I’ve decided to move the stop on my yesterday’s buy order into the black. The price is supported by the Super Trends. After completing a local correction, the bulls are expected to continue pushing the price towards the 8/8 level.
GBP/CHF
The pair stopped consolidating and right now is moving below the H4 Super Trends again. The stop on my sell orders is already in the black; the target is still at the 6/8 level.
The pair is moving in the middle of the H1 chart. Yesterday the market rebounded from the 5/8 level. If the bears are able to break the 3/8 level and to keep the price below it, the market will continue falling down towards the 0/8 one.
SILVER
Silver continues moving downwards and I’ve decided to move the stop on my sell order into the black. The H4 Super Trend turned downwards and entered the “red zone”; the main target is at the 1/8 level.
The price is moving in the upper part of the H1 chart. Earlier the Super Trends formed “bearish cross”. In the near term, the instrument is expected to continue moving towards the 4/8 level.
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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.