Murray Math Lines 11.12.2013 (AUD/USD, EUR/GBP, SILVER)
11.12.2013
Analysis for December 11th, 2013
AUD/USD
Possibly, price is about to complete this correction quite soon. Australian Dollar rebounded from daily Super Trend and the 3/8 level. Main target for bears is still at the 0/8 level.
At H1 chart, correction faced resistance from the 4/8 level. Right now, market is trying to keep price below Super Trends. Pair may enter “oversold zone” during the next several hours.
EUR/GBP
It looks like EUR/GBP is starting new trend; Super Trends formed “bullish cross”. In the near term, price may grow up towards the 4/8 level, break it, and then continue moving upwards.
Levels at H4 and H1 charts are completely the same; local correction is supported by Super Trends. I’ve got only one buy order so far. After market breaks maximum, I’ll move stop closer to local minimum.
SILVER
Silver reached its target at the 2/8 level and Take Profit on my buy order worked. Super Trends formed “bullish cross”. Considering that price didn’t rebound from the 2/8 level and is consolidating right now, I opened new buy order with target at the 3/8 level.
At H1 chart, price is about to enter “overbought zone”; current ascending movement is supported by Super Trends. If later price breaks the +2/8 level, lines at the chart will be redrawn.
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