Murrey Math Lines 09.10.2014 (EUR/USD, SILVER)
09.10.2014
Analysis for October 9th, 2014
EUR USD, “Euro vs US Dollar”
Eurodollar did manage to break the 0/8 level and the price has already been able to stay above Super Trends, which may form “bullish cross”. During a correction, I’ve opened a short-term buy order with the target at the 2/8 level: the future scenario depends on how the pair will move at this level.
At the H1 chart, the pair is moving at the top. Possibly, in the future the market may break the +2/8 level. In this case, the lines at the chart will be redrawn. I’ll move the stop loss on my order to breakeven right after the price starts growing.
XAG USD, “Silver vs US Dollar”
Silver has reached the daily Super Trend during a correction and is trying to rebound from it. If bears succeed in doing it, the price may start growing towards the 4/8 level and even break it.
As we can see at the H1 chart, earlier the price rebounded from the 2/8 level and may be supported by the 6/8 one, which means that Silver may resume falling. I’m planning to open additional sell orders as soon as the market is able to stay below the 5/8 level.
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.