Murray Math Lines 02.09.2014 (EUR/USD, SILVER)
02.09.2014
Analysis for September 2nd, 2014
EUR USD, “Euro vs US Dollar”
Euro is still consolidating a bit above the -1/8 level; bears are supported by the H4 Super trend. In the future, the price may start falling again towards the -2/8 level.
As we can see at the H1 chart, the current correction started from the 2/8 level. Considering that reverses hardly ever occur here, in the future the price may start a new descending movement. The closest target is at the 0/8 level.
XAG USD, “Silver vs US Dollar”
After rebounding from the daily Super Trend fast, Silver was able to stay below the 0/8 level, inside “oversold zone”. Probably, in the future the market may test the -2/8 level. If it breaks this level, the lines at the chart will be redrawn.
As we can see at the H1 chart, Super Trends are still very close to each other. Considering that the price is moving below the 3/8 level, the market may continue falling towards the 0/8 one. After reaching it, the price may start a new correction.
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