Murray Math Lines 03.12.2013 (AUD/USD, EUR/JPY, SILVER)

Analysis for December 3^rd, 2013

AUD/USD

Bears turned out to be strong enough to start new descending movement. Price is already moving below H4 Super Trend and it looks like sellers are going towards the 0/8 level. I’m planning to increase my short position as pair is moving towards minimums.



At H1 chart, Super Trends formed “bearish cross”. Possibly, pair may break the 0/8 level during the day. If later market breaks the -2/8 level as well, lines at the chat will be redrawn.

EUR/JPY

Price continues moving inside “overbought zone”; yesterday bulls reached new local maximum. Probably, in the nearest future pair may break the +2/8 level. In this case, lines at the chart will be redrawn.



At H1 chart, pair is trying to break the 7/8 level. If bull succeed, market will continue moving towards the 8/8 level. Later, this level may become starting point of new, deeper and more serious correction.

SILVER

Silver managed to start new descending movement, so I closed my buy order and opened new short position just in time. Stop is already in the black; I opened one more order during local correction. Closest target for bears is at the 0/8 level.



At H1 chart, price is already moving below the 3/8 level, which means that it may continue falling down. In addition to that, bears are supported by Super Trends.  Possibly, Silver may reach the 0/8 level during the day.



 
RoboForex Analytical Department