Murrey Math Lines 10.10.2014 (EUR/USD, SILVER)
10.10.2014
Analysis for October 10th, 2014
EUR USD, “Euro vs US Dollar”
Eurodollar hasn’t been able to stay above the daily Super Trend and right now is moving below the 0/8 level inside “oversold zone”. Moreover, Super Trends are still influenced by “bearish cross”. In the near term, the pair is expected to continue falling towards the -2/8 level.
At the H1 chart, the pair is trying to stay below the 8/8 level. Possibly, during the next several hours the pair may fall towards the 6/8 level. If it breaks this level, sellers will continue pushing the price towards new lows. Probably, Super Trends may form “bullish cross” quite soon.
XAG USD, “Silver vs US Dollar”
Silver has rebounded from the daily Super Trend twice, which means that it may resume falling. It the price is able to stay below the 6/8 level, the next target for bears will be at the 4/8 one.
As we can see at the H1 chart, the price is “stuck” between Super Trends, which may form “bearish cross” in the nearest future. It later Silver is able to stay below the 4/8 level, the instrument will continue falling to reach the 0/8 one.
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