Murray Math Lines 07.09.2012 (USD/CHF, CHF /JPY, SILVER)
07.09.2012 / 11:56
Analysis for September 7th, 2012
USD/CHF
I keep holding my sell order. The market hasn’t been able to stay above the H4 Super Trend’s line. The price may enter an “oversold zone” during Friday. The closest target is the -2/8 level, if the pair breaks it the lines at the chart will be redrawn.
The pair is moving in the lower part of the H1 chart. Yesterday the Super trends’ lines formed “bearish cross”. In the near term, the price is expected to break the -2/8 level and the lines at the chart will be redrawn.
CHF/JPY
The pair has left the trading range, in which it had been moving for quite a long time. Right now the price is above the 5/8 level, thus indicating that it may continue growing up towards the 8/8 one. The fact that the pair has rebounded from the H4 Super Trends’ line is also in favor of a possible ascending movement.
The local correction was supported by the 6/8 level and the Super Trend’s line. The pair may break the 8/8level during Friday and enter an “overbought zone”. If the price breaks the +2/8 level, the lines at the chart will be redrawn.
SILVER
Yesterday the price started the corrective movement, the bulls are supported by the 5/8 level. If the instrument rebounds from the current levels, the price may continue moving upwards. The main target is still the 8/8 level.
The correction stopped at the 6/8 level. If the price rebounds from this level and breaks the Super Trends’ lines backwards, the bulls will continue pushing the market towards new maximums. After Silver breaks the+2/8 level, the lines at the chart will be redrawn.
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