Murray Math Lines 04.12.2013 (AUD/USD, EUR/JPY, SILVER)

Analysis for December 4^th, 2013

AUD/USD

Australian Dollar was able to stay below the 3/8 level, which means that it may continue falling down. Yesterday, price “touched” stop on my sell order, so I had to open one more. Target is still at the 0/8 level.



At H1 chart, Super Trends formed “bearish cross” again. Pair is getting closer to lower border of “oversold zone”, and, most likely, will break it during the next several hours.

EUR/JPY

EUR/JPY is also being corrected. Possibly, price may test daily Super Trend during the day. If price rebounds from it, pair will start new ascending movement and break the +2/8 level. In this case, lines at the chart will be redrawn.



At H1 chart, yesterday pair rebounded from the 3/8 level and right now is moving between Super Trends. I the near term, pair is expected to fall down towards the 1/8 level. If later pair rebounds from this level, market may start new ascending movement.

SILVER

Silver is still moving inside bearish trend; price is being corrected, but may start moving downwards again in the nearest future. Main target for bears is still at the 0/8 level, which may later become starting point of new and deeper correction.



At H1 chart, local correction is supported by Super Trend. Instrument may start new descending movement during the day. At the 0/8 level, I’m planning to close all my sell orders by Take Profit.



 
RoboForex Analytical Department