Murray Math Lines 17.10.2013 (AUD/USD, GBP/CHF, SILVER)
17.10.2013
Analysis for October 17th, 2013
AUD/USD
At the H4 chart, the lines have squeezed. Australian Dollar rebounded from the Super Trend and right now is trying to enter an “overbought zone”. If later the pair breaks the +2/8 level, the lines at the chart will be redrawn.
The pair s moving in the upper part of the H1 chart; the buyers are supported by the Super Trends. We can’t exclude a possibility that on Thursday the lines at the chart may be redrawn.
GBP/CHF
The pair rebounded from the daily Super Trends. Considering that the market is already moving below the 3/8 level, it may continue falling down. The target is still at the 0/8 level.
At the H1 chart, the pair broke both Super Trends, which may form “bearish cross” in the nearest future. After the bears keep the price below the 3/8 level, the market will continue falling down towards the 0/8 one.
SILVER
Silver tested the daily Super Trend one more time. If later the price rebounds from it again, the bears will start a new descending movement towards the 1/8 level.
At the H1 chart, the instrument is moving above the 8/8 level again. If later the price breaks the Super Trends, the instrument will start falling down again and may break the minimum quite soon..
RoboForex Analytical Department
Attention!
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.