Murray Math Lines 10.12.2013 (AUD/USD, EUR/JPY, SILVER)
10.12.2013
Analysis for December 10th, 2013
AUD/USD
Correction continues. Possibly, Australian Dollar may try to test daily Super Trend. If later price rebounds from it, pair will start new descending movement towards the 0/8 level.
At H1 chart, Australian Dollar is moving between Super Trends, which earlier formed “bullish cross”. Short-term target for bulls is at the 4/8 level. If price isn’t able to stay above it for a long time, bears may start new descending movement.
EUR/JPY
EUR/JPY is still growing up and supported by H4 Super Trend. Main target is at the 8/8 level. However, if price rebounds from the 7/8 level, pair may start new correction. In this case, I’ll close my buy order.
At H1 chart, pair is one step away from breaking the 8/8 level. Possibly, market may enter “overbought zone” during the day. If later pair breaks the +2/8 level, lines at the chart will be redrawn.
SILVER
At H4 chart, correction continues; Silver has already broken previous maximum. If price is able to stay above daily Super Trend, market may continue growing up towards the 2/8 level.
At H1 chart, price is already moving above the 5/8 level and right now is trying to stay above Super Trend. Next target for bulls is at the 8/8 level. If later they break it, instrument will continue growing up.
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.