Murray Math Lines 08.11.2013 (AUD/USD, GBP/CHF, SILVER)
08.11.2013
Analysis for November 8th, 2013
AUD/USD
Australian Dollar is trying to start new descending movement; H4 Super trend is support. If later bears are able to keep price below the 3/8 level, pair will continue falling down towards the 0/8 one.
Super Trends formed “bearish cross”. Probably, during the next several hours price may break the 0/8 level and enter “oversold zone”. After pair breaks the -2/8 level, lines at the chart will be redrawn.
GBP/CHF
Yesterday pair rebounded from the 4/8 level and started rising very fast. Earlier Super Trends formed “bullish cross”. After local correction, price may reach the 8/8 level.
Levels at H4 and H1 charts are completely the same. In the near term, this correction may yet continue for a while, but later pair is expected to break latest maximum. I’m trading only up to the 8/8 level, because later price may start correction.
SILVER
Yesterday price rebounded from the H4 Super Trend. Super Trends formed “bearish cross”. Considering that earlier instrument rebounded from the 7/8 level, next short-term target is at the 1/8 one.
At H1 chart, market is moving inside “oversold zone”. Price has already tested the 0/8 level several times, but couldn’t stay above it. Possibly, instrument may break the -2/8 level during Friday. In this case, lines at the chart will be redrawn.
RoboForex Analytical Department
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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.