Murray Math Lines 15.10.2013 (AUD/USD, NZD/JPY, SILVER)

Analysis for October 15^th, 2013

AUD/USD

Australian Dollar continues moving upwards. The pair broke the maximum and right now the next target is at the 8/8 level. I’ve moved the stops on my buy orders closer to the latest local minimum.



At the H1 chart we can see, that the price is moving inside an “overbought zone”. We can’t exclude a possibility that after a slight correction, the bulls may try to break the +2/8 level. If they succeed, the lines at the chart will be redrawn.

NZD/JPY

The pair is starting a new ascending movement; the Super Trends formed “bullish cross”. If later the price is able to stay above the 5/8 level and break the maximum, the pair will continue growing up towards the 0/8 one.



At the H1 chart, the bulls may enter an “overbought zone” quite soon. Later the market may break the +2/8 level and the lines at the chart will be redrawn.

SILVER

Silver rebounded from the H4 Super Trend; the bears broke the local minimum and I moved the stop on my order into the black. The main target is still at the 1/8 level.



At the H1 chart, the instrument is moving inside an “oversold zone”; the bears are supported by the Super Trends. The instrument may break the -2/8 level during the next several hours. In this case, the lines at the chart will be redrawn.



 
RoboForex Analytical Department