Murrey Math Lines 16.09.2014 (EUR/USD, SILVER)
16.09.2014
Analysis for September 16th, 2014
EUR USD, “Euro vs US Dollar”
Eurodollar is still consolidating. The price hasn’t been able to stay above the 0/8 level and is returning to “oversold zone”. If the market is able to stay below the H4 Super Trend during the day, the pair will resume its movement towards the -2/8 level.
At the H1 chart, the price is moving in the middle. If later the price is able to break the 3/8 level and stay below it, the pair may continue falling towards the 0/8 one.
XAG USD, “Silver vs US Dollar”
Silver is still moving inside “oversold zone”. Possibly, the price may rebound from the 0/8 level and the H4 Super Trend, which earlier provided support several times. In this case, the market will continue moving to reach the -2/8 level.
At the H1 chart, the price is also moving inside “oversold zone”. The market is “stuck" between Super Trends: if it breaks them downwards and stay below them, the price may start a new descending movement. If later Silver breaks the -2/8 level, the lines at the chart will be redrawn.
RoboForex Analytical Department
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.