Murray Math Lines 28.11.2013 (AUD/USD, EUR/JPY, SILVER)
28.11.2013
Analysis for November 28th, 2013
AUD/USD
Australian Dollar started new correction so I decided to close my sell order to decrease risks. Stop on my second order is near local maximum. If price isn’t able to stay above H4 Super Trend for a long time and breaks it downwards, market will start new descending movement towards the 0/8 level.
It’s very important how pair will move near the 2/8 level at H1 chart. If market rebounds from this level, bears may continue pushing price downwards to test the -2/8 level and even break it.
EUR/JPY
It looks like pair is going to break the +2/8 level; I’m planning to close one of my by orders right at this level. Pair is expected to continue moving upwards, that’s why I’ll keep my second buy order. I’ll place Take Profit on this order after lines at the chart are redrawn.
Levels at H4 and H1 charts are completely the same. Possibly, pair may correct for a while near Super Trend and the +1/8 level during the day, but later it is expected to break the +2/8 one.
SILVER
Silver is in drawdown, but may yet continue this correction. However, if price breaks the -2/8 level and lines at the chart are redrawn, then during short pullback, I’ll try to open sell order with new bearish targets.
At H1 chart, we can see that price is consolidating below the 1/8 level. If bulls are strong enough to break Super Trends, I’ll increase my long positions. Otherwise, my Stop Loss may work and I may open new sell orders.
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