Murray Math Lines 02.11.2012 (AUD/JPY, NZD/JPY, SILVER)

Analysis for November 2^nd, 2012

AUD/JPY

The AUD/JPY currency pair is moving above the 5/8 level and may continue growing up towards the 8/8 one. The bulls are supported by the Super Trends’ lines. The buyers may reach a new local maximum during Friday.



At the H1 chart the bulls are trying to find any support at the 5/8 level. If they rebound from this level and keep the price above the Super Trends’ lines, the pair will continue moving upwards. The short-term target is at the 8/8 level.

NZD/JPY

Yesterday the bulls were able to keep the price above the 5/8 level. The price movement is supported by the Super Trends’ lines. If the market breaks the 6/8 level, the price will continue growing up. The target for the sellers is the 8/8 level.



The lines at the H4 and the H1 charts are completely the same, the pair is being corrected near the Super Trends’ line. If the price rebounds from the line, the price will reach the 8/8 level within the next several hours.

SILVER

After rebounding from the daily Super Trend’s line, the market started moving downwards again. The bears broke the 1/8 level. It looks like Silver is going to continue falling down in the nearest future. The target is at the 0/8 level.



At the H1 chart the sellers have just broken the 4/8 level. Earlier the Super Trends’ lines formed “bearish cross”. If the bears are able to keep the price below the 5/8 level, Silver will continue falling down towards the 0/8 one.



 
RoboForex Analytical Department