Murray Math Lines 01.03.2013 (USD/CAD, EUR/GBP, SILVER)

Analysis for March 1^st, 2013

USD/CAD

The market couldn’t keep the price below the H4 Super Trend’s line and the pair is moving inside an “overbought zone” again. The short-term target is at the +2/8 level. If the price breaks this level, the lines at the chart will be redrawn.



At the H1 chart we can see that the Super Trends’ lines formed “bullish cross”; the market is just several pips away from the +2/8 level. Most likely, the pair will break it and the lines at the chart will be redrawn.

EUR/GBP

The EUR/GBP currency pair is moving between the Super Trends’ lines. We can’t exclude a possibility that the bears may try to break the daily Super Trend’s line. So far the target is at the 4/8 level: if the market breaks it, the pair will continue falling down towards new minimums.



At the H1 chart we can see that the market is consolidating; the bears are supported by the Super Trend’s line. If the price rebounds from the line, the pair will continue falling down towards the 0/8 level.

SILVER

Silver is moving in the middle of the H4 chart. On Thursday the bears broke the H4 Super Trend’s line backwards. If the bears are able to keep the price below the 3/8 level, the pair will continue falling down towards the 0/8 one.



At the H1 chart the price is consolidating below the Super Trend’s line. We can’t exclude a possibility that in the nearest future the bears may break the 0/8 level and enter an “oversold zone”. If later the pair breaks the -2/8 level, the lines at the chart will be redrawn.



 
RoboForex Analytical Department