Murray Math Lines 13.04.2012 (EUR/GBP, EUR/JPY, SILVER)

Analysis for April 13^th, 2012

EUR/GBP

The EUR/GBP currency pair is still consolidating inside an “oversold zone”, the bears haven’t been able to break the -1/8 level yet. The local correction may continue for a while, but after that we can expect the price to start falling down again.



At the H1 chart the price fixed itself below the 3/8 level, thus indicating that the bears may continue pushing the market towards the 0/8 one. The pair may move above the 3/8 level for a while, but is unlikely to stay there for a long time.

EUR/JPY

Despite the fact that the price has already left an “oversold zone”, the current price movement looks more like the correction than the start of the ascending trend. The market may start moving downwards again and the bears may test the -2/8 level. The future scenario depends on how the price will move at this level.



The lines at the H1 and the H4 charts are completely the same. The correction is facing the resistance from the -1/8 level, and the market is trying to rebound from it. If the bears are able to break the H1 Super Trend’s line, the price will continue falling down.

SILVER

The market rebounded from the 0/8 level, and now the main obstacle for the bulls is the daily Super Trend’s line. If the price breaks the line and then the 2/8 level, the market will continue growing up. The target in this case will be the 4/8 level.



At the H1 chart the bulls faced the resistance from the 3/8 level. At the moment the market is being corrected near the Super Trend’s line. The price may continue moving upwards in the nearest future. The target for the buyers is at the 4/8 level.