Murray Math Lines 16.10.2013 (AUD/USD, NZD/JPY, SILVER)
16.10.2013
Analysis for October 16th, 2013
AUD/USD
Australian Dollar reached a new maximum and right now is being corrected near the H4 Super Trend. If later the pair rebounds from it, the price will continue growing up towards the 8/8 level.
At the H1 chart we can see, that the price is trying to stay inside an “overbought zone”. We can’t exclude a possibility that the bulls may break the +2/8 level during the day. If they succeed, the lines at the chart will be redrawn.
NZD/JPY
The Super Trends formed “bullish cross”. The bulls are trying to keep the price above the 5/8 level. If they succeed, the pair will continue growing up We can’t exclude a possibility that the price may break the maximum during the day.
At the H1 chart, the pair is trying to enter an “overbought zone”. Earlier the price rebounded from the Super Trends. In the near term, the market may break the +2/8 level and the lines at the chart will be redrawn.
SILVER
Silver is being corrected; the market stopped at the H4 Super Trend. If later the price rebounds from it, the bears will start a new descending movement.
At the H1 chart, the instrument is moving between the Super Trends. If later the price breaks the H1 Super Trend, the instrument will start falling down again. Otherwise, the price may start a deeper correction.
RoboForex Analytical Department
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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.