Murray Math Lines 21.11.2012 (AUD/USD, EUR/JPY, SILVER)

Analysis for November 21^st, 2012

AUD/USD

After breaking the daily Super Trend’s line backwards, Australian Dollar is trying to start moving upwards. At the moment the pair is being corrected, but the bulls may try to break a local maximum within the next several hours. The short-term target is at the 8/8 level.



At the H1 chart the bears faced the resistance at the 2/8 level. Now the bulls have to break the Super Trends’ lines and keep the price above them. In the future the pair is expected to reach the 8/8 level, break it, and continue moving towards new maximums.

EUR/JPY

The EUR/JPY currency pair continues growing up. The bulls are supported by the Super Trends’ lines, which the price rebounded from yesterday. Most likely, the pair will continue moving upwards in the nearest future. The target for the buyers is the 8/8 level.



The lines at the H4 and the H1 charts are completely the same. The price may reach a new local maximum during the day. Later the 8/8 level may become a starting point of a new correction.

SILVER

Silver is moving in the middle of the H4 chart, the bulls are supported by the H4 Super Trend’s line. If later the buyers are able to keep the price above the 5/8 level, the instrument will continue growing up towards the 8/8 one.



At the H1 chart the price is already moving above the 5/8 level, which means that it may reach and break the 8/8 one in the nearest future. We can’t exclude a possibility that the instrument may break the +2/8 level. In this case the lines at the chart will be redrawn.



 
RoboForex Analytical Department