Murray Math Lines 07.11.2013 (AUD/USD, EUR/GBP, SILVER)
07.11.2013
Analysis for November 7th, 2013
AUD/USD
It looks like Australian Dollar is about to stop correction; pair has already rebounded from the H4 Super Trend. If bears are able to keep price below the 3/8 level, pair will continue falling down towards the 0/8 one.
At H1 chart, Super Trends are about to form “bearish cross”. After local correction, I expect price to start falling down again. Closest target is at the 0/8 level.
EUR/GBP
Pair is still consolidating below the H4 Super Trend. I have two sell orders. I’ll open the third one as soon as price stays below the 3/8 level. Target for all orders is the 0/8 level.
Levels at H4 and H1 charts are completely the same. Probably, pair may test the 4/8 level during the day. If price rebounds from it, pair will start new descending movement.
SILVER
Correction is taking place. Earlier the Super Trends formed “bearish cross”. Possibly, instrument may rest the daily Super Trend during the day. If price rebounds from it, sellers will return to market.
At H1 chart, market is moving inside “oversold zone”. Yesterday price attempted to stay above the 0/8 level, but failed. Possibly, bulls may attempt one more time to push price upwards and complete this correction.
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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.