Murray Math Lines 08.08.2012 (EUR/JPY, GBP/CHF, SILVER)

Analysis for August 8^th, 2012

EUR/JPY

The price has rebounded from the 5/8 level twice in a row. Now the bears have to break the H4 Super Trend and then the daily one as well. Later the price may continue falling down towards the 0/8 level.



The price is moving in the middle of the H1 chart. If the bears break the 4/8 level and then keep the price below the 3/8 one, the pair will continue falling down towards the 0/8 level. I’ll move the stop on my sell order into the black as soon as possible.

GBP/CHF

After making a rapid descending movement, the market is being corrected. The bears are supported by the Super Trend’s line. In the near term, the price may continue moving downwards and reach the 0/8 level within the next several days.



At the H1 chart the bears are trying to keep the price inside an “oversold zone” below the 0/8 level. Most likely, the price will continue falling down during the day. If the pair breaks the -2/8 level, the lines at the chart will be redrawn.

SILVER

The market is trying to rebound from the 8/8 level. If the bears are able to break the Super Trends’ lines, the first target will be the 4/8 level. However, if this level is also broken, the instrument will continue moving downwards.



At the H1 chart the market has rebounded from the 8/8 level as well. The short-term target is at the 4/8 level, but the market will probably break it and continue falling down towards the 0/8 one. After the price breaks the Super Trends’ lines, I’ll move the stop on my sell order into the black.