Murray Math Lines 18.09.2012 (USD/CHF, EUR/JPY, SILVER)

Analysis for September 18^th, 2012

USD/CHF

The USD/CHF currency pair is still consolidating below the 4/8 level, the bears are supported by the H4 Super Trend’s line. If the market rebounds from the current levels, the price will continue falling down. The short-term target is at the 3/8 level.



At the H1 chart the pair is trying to enter an “oversold zone”. The price may continue falling down towards the -2/8 level during the next several hours. If the pair breaks this level, the lines at the chart will be redrawn.

EUR/JPY

The EUR/JPY currency pair is being corrected, the bears are supported by the H4 Super Trend’s line. If the market rebounds from the current levels, the price will continue growing up. The closest target is at the 8/8 level.



The pair is moving in the middle of the H1 chart, between the Super Trends’ lines. If the bulls are able to keep the price above the 5/8 level, the pair will continue moving upwards. There is a possibility that the market may reach the 8/8 level by the end of the week.

SILVER

Silver is still being corrected. The bulls’ first attempt to enter an “overbought zone” failed. However, they may try to break the 8/8 level one more time in the nearest future. The target for the next several days is at the +2/8 level.



At the H1 chart the correction was supported by the 7/8 level once again. If the market breaks the Super Trends’ lines backwards, it will be a very strong signal of a new ascending movement. After the instrument breaks the +2/8 level, the lines at the chart will be redrawn.