Murray Math Lines 17.12.2013 (AUD/USD, NZD/JPY, SILVER)
17.12.2013
Analysis for December 16th, 2013
AUD/USD
Australian Dollar is still consolidating below H4 Super Trend. Possibly, price may try to test it during the day. If it rebounds, market will start new descending movement towards the 0/8 level.
At H1 chart, bears’ still haven’t been able to enter “oversold zone” failed. If later price is able to rebound from the 2/8 level, pair will start new descending movement. After price breaks the -2/8 level, lines at the chart will be redrawn.
NZD/JPY
NZD/JPY is still moving inside flat pattern close to the 5/8 level. If market is able to keep price above the 5/8 level, instrument will start growing up again. In this case, target will be at the 8/8 level, which may later become starting point of new correction.
Pair is moving in upper part of H1 chart. We can see that price has been consolidating for quite a long time, moving through Super Trends up and down. In the nearest future, bulls are expected to enter “overbought zone”.
SILVER
Silver is still moving inside narrow trading range. If instrument is able to break Super Trends downwards, closest target will be at the 0/8 level and the next - the -2/8 one.
At H1 chart, market is testing the 8/8 level. If price rebounds from it, instrument will start new descending movement.
RoboForex Analytical Department
Attention!
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.