Murrey Math Lines 21.10.2014 (EUR/USD, SILVER)
21.10.2014
Analysis for October 21st, 2014
EUR USD, “Euro vs US Dollar”
Eurodollar is still being corrected. Possibly, the market may try to test the weekly Super Trend again, and if it rebounds, the pair may resume falling. In this case, in the future the price may break the 0/8 level and then continue falling towards the -2/8 one.
At the H1 chart, flat continues. Earlier the price rebounded from the 3/8 level, but it is still moving above Super Trends. I’ve got only one sell order so far, but I’m planning to increase my short position after the pair breaks the 1/8 level.
XAG USD, “Silver vs US Dollar”
Silver is still consolidating between Super Trends; the instrument has already rebounded from the 5/8 level three times. If later the market is able to break the 3/8 level and stay below it, I’m planning to increase my position actively with the target at the 0/8 level.
As we can see at the H1 chart, Silver is moving in the middle. The price is very likely to test the daily Super Trend once again. If it rebounds, it will be quite a strong signal for the market to resume the main downtrend.
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