Murray Math Lines 05.11.2012 (EUR/JPY, EUR/GBP, SILVER)

Analysis for November 5^th, 2012

EUR/JPY

The EUR/JPY currency pair has been moving between the 5/8 and 3/8 level over the last several days. The bears are trying to start a descending trend once again. If they are able to keep the price below the 3/8 level, the market will continue falling down towards the 0/8 one.



At the H1 chart the Super Trends’ lines formed “bearish cross”. The pair has already broken the 3/8 level and may reach the 0/8 one during the day. Later, this level may be broken as well.

EUR/GBP

The EUR/GBP currency pair continues falling down, the bears are supported by the Super Trends’ lines. Considering that the market is moving below the 3/8 level, we can expect it to continue falling down towards the 0/8 one.



The lines at the H4 and the H1 charts are completely the same. After rebounding from the Super Trend’s line, the market started moving downwards. In the nearest future the price may reach the 0/8 level, which may later become a starting point of a correction.

SILVER

The price is moving inside an “oversold zone”, so I’ve decided to open a short-term sell order. Most likely, Silver will continue falling down and the bears will each the -2/8 level. After they break this level, the lines at the chart will be redrawn.



At the H1 chart the price is also moving inside an “oversold zone”, the bears are supported by the Super Trends’ lines. We can’t exclude a possibility that Silver may break the -2/8 during the day. In this case the lines at the chart will be redrawn.



 
RoboForex Analytical Department