Murray Math Lines 17.09.2012 (AUD/USD, GBP/CHF, SILVER)
17.09.2012 / 12:19
Analysis for September 17th, 2012
AUD/USD
The price started corrective movement form the 6/8 level, the bulls are supported by the H4 Super Trend’s line. If the pair rebounds from the line, we can expect the price to continue growing up. The target for the next several days is the 8/8 level.
The pair is moving in the middle of the H1 chart. If the bulls are able to break the Super Trend’s line backwards and keep the price above the 5/8 level, the pair will continue growing up towards the 8/8 one. Today I’ve opened a short-term buy order.
GBP/CHF
Currently the pair is being corrected, the bears are supported by the Super Trend’s line. If the price rebounds from the 3/8 level, the pair will continue moving downwards. The target is at the 0/8 level.
The lines at the H4 and the H1 charts are completely the same. The correction may be finished within the next several hours. Later, we can expect the pair to continue falling down towards the 0/8 level.
SILVER
Silver is consolidating inside an “overbought zone”, the bulls are supported by the Super Trends’ lines. We can’t exclude a possibility that the price may rebound from the 8/8 level during the day. Later, the instrument is expected to continue growing up towards the +2/8 level.
At the H1 chart we can see that the bulls are just one “step” away from breaking the +2/8 level and redrawing the lines. Most likely, Silver will continue growing up during Monday and Tuesday. The critical point is breaching the 8/8 level.
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