Murrey Math Lines 17.10.2014 (EUR/USD, SILVER)
17.10.2014
Analysis for October 17th, 2014
EUR USD, “Euro vs US Dollar”
Eurodollar is still moving between Super Trends. Possibly, the market may try to test the weekly Super Trend after all: if the market rebounds from it, the pair may resume falling and break the 0/8 level.
As we can see at the H1 chart, the pair is still consolidating. I’ve got only one sell order and a pending limit order so far. However, I’m planning to increase my position after the market breaks the 2/8 level downwards and stays below it.
XAG USD, “Silver vs US Dollar”
Silver has rebounded from the daily Super Trend three times, which means that the market may continue falling. I’m planning to open another sell order as soon as the market breaks the 4/8 level and stays below it.
As we can see at the H1 chart, the price is consolidating between Super Trends. Possibly, in the future the price may break the 0/8 level and continue falling inside “oversold zone”. If the market 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.