Murrey Math Lines 24.10.2014 (EUR/USD, SILVER)

Analysis for October 24^th, 2014

EUR USD, “Euro vs US Dollar”

Eurodollar has broken the 0/8 level and been able to stay inside “oversold zone”; Super Trends have formed “bearish cross” and right now are providing support for sellers. Later, the price is likely to continue falling towards the -2/8 level. If the market breaks this level, the lines at the chart will be redrawn.



At the H1 chart, the pair is consolidating between Super Trends inside “oversold zone”. We should note that the price may start a correction from the -1/8 level or even return to the 0/8 one. This is the reason why the stop loss is placed above this level.

XAG USD, “Silver vs US Dollar”

After rebounding from the daily Super Trend once again, the market is attempting to resume falling. I’ve managed to move the stop loss on my sell order, which I opened earlier, to breakeven. I opened an additional order when the price finished a local correction.



As we can see at the H1 chart, the price is attempting to stay inside “oversold zone”. Super Trends have formed “bearish cross”. In the future, Silver is expected to break the -2/8 level. In this case, the lines at the chart will be redrawn. I’m planning to move the stop loss to breakeven after the market breaks the minimum.



 
RoboForex Analytical Department