Murray Math Lines 01.11.2013 (AUD/USD, NZD/JPY, SILVER)

Analysis for November 1^st, 2013

AUD/USD

Yesterday Australian Dollar rebounded from the H4 Super Trend and right now is being corrected below it. In this situation, the price is more likely to continue moving downwards that start a new ascending movement. If the market is able to keep the price below the 3/8 level, the pair will continue falling down towards the 0/8 one.



The lines at the H4 and H1 charts are completely the same; the price is supported by the Super Trends. We can’t exclude a possibility that in the nearest future the pair may break the local minimum. If it happens, I’ll move the stop on my sell order into the black.

NZD/JPY

The pair was able to stay inside an “oversold zone”; it is moving very close to the 0/8 level. The closest target for the sellers is at the -2/8 level; if they break it, the lines at the chart will be redrawn.



The lines at the H4 and H1 charts are completely the same. If Super Trends form “bearish cross”, the pair will continue falling down towards the -2/8 level.

SILVER

Silver rebounded from the daily Super Trend. We can’t exclude a possibility that the Super Trends may form “bearish cross” during the next several hours. During the local correction, I opened a short-term sell order with the target at the 3/8 level.



At the H1 chart, the market is about to enter an “oversold zone”; the price is supported by the Super Trend. If the price breaks the 0/8 level, the instrument will continue moving downwards. After the market breaks the -2/8 level, the lines at the chart will be redrawn.



 
RoboForex Analytical Department