Murrey Math Lines 13.10.2014 (EUR/USD, SILVER)
13.10.2014
Analysis for October 13th, 2014
EUR USD, “Euro vs US Dollar”
The downtrend is still in effect. At the H4 chart, Eurodollar has rebounded from the 0/8 level, which means that it may continue falling inside “oversold zone”. After the pair breaks the -2/8 level, the lines at the chart will be redrawn.
At the H1 chart, the pair hasn’t been able to break the 8/8 level. Earlier, Super Trends formed “bearish cross”. In the near term, the pair is expected to fall towards the 5/8 level and break the minimum, which will allow me to move the stop loss on my sell order to breakeven.
XAG USD, “Silver vs US Dollar”
Last week, Silver rebounded from the daily Super Trend twice. If the price is able to stay below the H4 Super Trend during the day, the market may continue falling towards the 4/8 one.
At the H1 chart, the situation is very interesting. The price has rebounded from the 2/8 level and then from the 6/8 one, which means that Silver may resume falling. I’m planning to increase my short position as soon as the market breaks Super Trends downwards and stays below them.
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