Murray Math Lines 31.10.2012 (EUR/JPY, AUD/JPY, SILVER)
31.10.2012
Analysis for October 31st, 2012
EUR/JPY
The EUR/JPY currency pair is moving in the middle of the H4 chart. Yesterday the price rebounded from the daily Super Trend’s line and the 3/8 level. Now the bulls have to keep the price above the 5/8 level. If they succeed, the pair will continue growing up towards the 8/8 one.
The buyers were supported by the 2/8 level, from which the pair started growing up yesterday. The Super Trends’ lines formed “bullish cross”. Most likely, in the nearest future the price will continue moving upwards. The target is at the 8/8 level.
AUD/JPY
Yesterday the pair rebounded from the 5/8 level. Now the bulls have to break the H4 Super Trend and keep the price above it. Later we can expect the pair to continue growing up towards the 8/8 level.
At the H1 chart we can see that the Super Trends’ lines are still under pressure of “bearish cross”, but they have already gone into “green zone”. If later the market is able to keep the price above the 5/8 level, the pair may continue growing up towards the 8/8 one.
SILVER
The market is testing the H4 Super Trend’s line one more time. If the price rebounds from the line once again, Silver will start falling down. The short-term target for the bears is the 0/8 level.
Silver is moving in the middle of the H1 chart, the sellers are supported by the 4/8 level. If the instrument rebounds from the current levels, the price will start falling down again towards the 0/8 one.
RoboForex Analytical Department
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