Murray Math Lines 06.11.2012 (AUD/JPY, GBP/CHF, SILVER)

Analysis for November 6^th, 2012

AUD/JPY

Yesterday the pair rebounded from the H4 Super Trend’s line and now the bulls have a good opportunity to start pushing the price upwards. The target for the next several days is at the 8/8 level. The stop on my buy order has been already moved into the black.



At the H1 chart the price is trying to enter “overbought zone” once again, the bulls were supported by the 5/8 level. In the nearest future we can expect the price to break the +2/8 level and the lines at the chart will be redrawn.

GBP/CHF

The price is testing the 7/8 level one more time, but the bulls seems to be very weak to break it. If the price rebounds from the current levels, the bears will start pushing the price downwards. The first target for them will be the 1/8 level.



Although the lines at the H4 and the H1 charts are different, here the 7/8 level is also a strong resistance level. If later the bears are able to keep the price below the Super Trends’ lines, the pair may start moving downwards again.

SILVER

Silver is still moving inside an “oversold zone”, the price is testing the 0/8 level. There is a possibility that the bears may be supported by the H4 Super Trend’s line. The short-term target is at the -2/8 level.



At the H1 chart the market is also moving below the 0/8 level. Most likely, the instrument will continue a corrective movement during the day. Later Silver is expected to start moving downwards and break the -2/8 level. In this case the lines at the chart will be redrawn.



 
RoboForex Analytical Department