Murray Math Lines 21.10.2013 (AUD/USD, NZD/JPY, SILVER)
21.10.2013
Analysis for October 21st, 2013
AUD/USD
Australian Dollar continues moving upwards very fast. Last Friday, the price broke the 7/8 level and stayed above it. During a local correction, I opened one more buy order with the target at the 8/8 level; the pair is expected to reach this level during the next several hours.
At the H1 chart, the pair is moving inside an “overbought zone”; it is supported by the Super Trends. We can’t exclude a possibility that on Monday the pair 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; earlier the Super Trends formed “bullish cross”. If the price breaks the 7/8 level, the bulls will continue pushing the pair upwards and each the 8/8 one.
At the H1 chart, the pair is moving inside an “overbought zone”, above the Super Trends. There is a possibility that on Monday the pair break the +2/8 level and the lines at the chart will be redrawn.
SILVER
It looks like Silver isn’t going to start falling down, so I’ve lost a bit. There is a possibility that in the nearest future the price may start a correction. Later the instrument may start a new ascending movement.
At the H1 chart, the price is moving inside an “overbought zone”. During the day, the price may test the 8/8 level once again. If the market rebounds from it, the instrument will start growing up again.
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.