Murray Math Lines 27.02.2012 (SILVER, NZD/USD, EUR/JPY)

27.02.2012

Analysis for February 27th, 2012

SILVER

Silver is moving inside an “overbought zone” above the +1/8 level. Most likely, the price will start moving upwards again on Monday or Tuesday. After the market breaks the +2/8, the lines at the chart will be redrawn.



At the H1 chart the market is consolidating between the 7/8 and 6/8 levels, and this movement is supported by the Super Trend’s line. The instrument still has some potential to grow, that’s why we can expect it to reach higher levels within the next several days.


NZD/USD

The price has rebounded from the daily Super Trend’s line three times already. Most likely, the consolidation, which has taken place for quite a long time, will be finished in the nearest future. The short-term target is the 6/8 level. If the price breaks this level, the market will continue growing up.



At the H1 chart the Super Trends’ lines formed “Bullish Cross”. At the moment the local correction is taking place, and it may be finished during the day. In the future we can expect the price to start moving upwards again.


EUR/JPY

The EUR/JPY currency pair has already reached the 6/8 level, but hasn’t broken it yet. There is a possibility that the correction may start here. An overall forecast is still bullish. The target for this week is at the 8/8 level.



At the H1 chart we can see that the pair tried to enter an “oversold zone” again, but failed. At the moment the price is moving below the 8/8 level. We can’t exclude the possibility of the correction, which may be supported by the H4 Super Trend’s line.


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.