Murray Math Lines 30.10.2013 (AUD/USD, CAD/CHF, SILVER)

Analysis for October 30^th, 2013

AUD/USD

Australian Dollar is still being corrected. There is a possibility that the pair may start a new ascending movement as long as it is staying inside the ascending channel. However, one is not recommended to start trading until the market keeps the price above the Super Trends.



At the H1 chart, the bears faced the resistance from the 3/8 level, and the pair rebounded from it. We can’t exclude a possibility that in the nearest future the price may grow up towards the 5/8 level. If the pair breaks this level, the bulls will return to the market.

CAD/CHF

The pair is also still being corrected; we can’t exclude a possibility that the bears may start a new descending movement in the nearest future. The main target is still at the 0/8 level, where I placed take Profit on both of my sell orders.



At the H1 chart, the pair couldn’t break the 2/8 level and may continue moving downwards. There is a possibility that in the nearest future the bears may enter an “oversold zone” and then continue falling down towards the -2/8 level to break it.

SILVER

Silver continues moving inside flat pattern; the daily Super Trend is in the “green zone” again. In the future, the price is expected to continue moving upwards and reach the 8/8 level, which may later become a starting point of a new correction.



At the H1 chart, the price is trying to stay inside an “overbought zone”; the Super Trends have almost formed “bullish cross”. The market may break the +2/8 level during the day and the lines at the chart will be redrawn.



 
RoboForex Analytical Department