Murray Math Lines 12.10.2012 (EUR/JPY, NZD/USD, SILVER)

Analysis for October 12^th, 2012

EUR/JPY

Lacking several tens of pips to reach the 8/8 level, the pair started moving downwards, reached the 4/8 one and then started a corrective movement. If the bears are above to keep the price below the Super Trends’ lines, the market will continue falling down. The target is at the 0/8 level.



The pair is moving in the middle of the H1 chart. There is a possibility that the bears may be supported at the 5/8 level. If the market rebounds from the current levels and breaks the Super Trends’ lines backwards, the pair will start moving downwards again.

NZD/USD

New Zealand Dollar continues consolidating, the Super Trends’ lines formed “bearish cross”. All these factors made me to close my buy order and opened a sell one, because in the nearest future the pair may start falling down again towards the 4/8 level.



The bears have been supported by the H4 Super Trend’s line many times. If the market rebounds from the line, the price will start falling down towards the 0/8 level. I’ll move the stop on sell order into the black as soon as possible.

SILVER

Silver continues moving between the Super Trends’ lines. If the market rebounds from the current levels and keeps the price above the 5/8 one, the instrument will start growing up again. The target is still at the 8/8 level.



After rebounding from the 0/8 level, the market are trying to break the Super Trends’ lines. If the bulls succeed in doing it, the price will start moving upwards again. The short-term target for the buyers is the 8/8 level.





RoboForex Analytical Department