Murrey Math Lines 20.10.2014 (EUR/USD, SILVER)
20.10.2014
Analysis for October 20th, 2014
EUR USD, “Euro vs US Dollar”
Eurodollar is still consolidating. Considering that the pair hasn’t been able to stay above the 1/8 level, the market may continue falling. However, I’m not planning to increase my short positions until the price breaks Super Trends.
At the H1 chart, the pair is also moving at the bottom. Possibly, Euro may try to test the 0/8 level quite soon. If the pair breaks it, the price may continue falling inside “oversold zone”.
XAG USD, “Silver vs US Dollar”
Silver has already rebounded from the daily Super Trend three times. Considering that the market is moving in the middle of the chart, in order to open additional orders I’ll wait until the price breaks the 3/8 level and stays below it.
As we can see at the H1 chart, Super Trends may form “bearish cross” during the day. Later, the price may break the 0/8 level and the minimum. As soon as it happens, I’m planning to move the stop loss to breakeven.
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