Murrey Math Lines 04.11.2015 (EUR/USD, SILVER)
04.11.2015
Analysis for November 4th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is still being corrected. The price is trying to stay below the 0/8 level. Possibly, on Wednesday the pair may test the previous high one more time. If the market rebounds from it again and stays below the 0/8 level, I’m planning to increase my position.
At the H1 chart, Eurodollar is moving in the middle. If the pair breaks the 3/8 level and stays below it, the market will resume moving downwards. If in the nearest future the price breaks Super Trends and stays above them, we can expect a local growth. Otherwise, Eurodollar may continue falling.
XAG USD, “Silver vs US Dollar”
Silver has left “overbought zone” and Super Trends have formed “bearish cross”. The closest target is at the 6/8 level. If the price breaks it, the pair will continue falling much deeper.
At the H1 chart, the price is moving below the 3/8 level. Earlier, Super Trends formed “bearish cross”. It’s highly likely that in the nearest future the instrument may break the 2/8 level and continue moving downwards.
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