Murray Math Lines 18.10.2013 (AUD/USD, NZD/JPY, SILVER)

Analysis for October 18^th, 2013

AUD/USD

Australian Dollar continues moving towards new maximums. After rebounding from the H4 Super Trend, the market reached the 7/8 level. During a local correction, I opened one more buy order with the target at the 8/8 level.



The pair is about to enter an “overbought zone”. We can’t exclude a possibility that on Friday the pair may break the 8/8 level. Later the price may break the +2/8 level and the lines at the chart will be redrawn.

NZD/JPY

The pair is getting closer to the maximum. The bulls are supported by the Super Trends, which formed “bullish cross”. Most likely, the current consolidation will stop during the day and the pair will continue growing up.



At the H1 chart, the pair is already moving above the 2/8 level, which means that it may continue growing up towards the 4/8 one. I’ll move the stops on mu buy orders higher as soon as the price breaks the a local maximum.

SILVER

Yesterday Silver rebounded from the daily Super Trend twice and is consolidating right now. We can’t exclude a possibility that the bears may return to the market in the nearest future. If the price breaks the H4 Super trend, the instrument will start a new descending movement.



The pair is moving in the upper part of the H1 chart. The price couldn’t stay above the 8/8 level and may start falling down again. The local target is at the 6/8 level.



 
RoboForex Analytical Department