Murrey Math Lines 30.10.2014 (EUR/USD, SILVER)
30.10.2014
Analysis for October 30th, 2014
EUR USD, “Euro vs US Dollar”
Eurodollar is still moving downwards. Earlier, Super Trends formed “bearish cross”. In the future, the market is expected to continue falling inside “oversold zone”. After the pair breaks the -2/8 level, the lines at the chart will be redrawn.
At the H1 chart, the price has mover very close to the -2/8 level. Possibly, the pair may break this level in during the next several hours. In the future, I’m planning to increase my short position.
XAG USD, “Silver vs US Dollar”
Silver has left a consolidation channel. The price is supported by Super Trends, from which the price has already rebounded several times. As soon as the market is able to stay below the 3/8 level, the price will continue falling towards the 0/8 one.
As we can see at the H1 chart, the market may break the -2/8 level during Thursday. In this case, the lines at the chart will be redrawn. If later the price starts a new correction, I’m planning to open an additional sell order.
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