Murray Math Lines 16.01.2013 (USD/CAD, NZD/USD, GBP/CHF)
16.01.2013
Analysis for January 16th, 2013
USD/CAD
Canadian Dollar is still consolidating; the bears are supported by the H4 Super Trend’s line. More to that, the market hasn’t tried to test the 2/8 level yet, which means that the price may start a new descending movement. In the nearest future the pair may break the -2/8 level and the lines at the chart will be redrawn.
The lines at the H4 and the H1 charts are completely the same. Most likely, the price will continue moving downwards in the nearest future. During Wednesday the market may break a local minimum.
NZD/USD
New Zealand Dollar is still consolidating near the H4 Super Trend’s line. The pair is already moving above the 5/8 level, that’s why we can expect it to continue growing up. The target for the bulls is at the 8/8 level.
The pair is moving in the lower part of the H1 chart. The price may break a local maximum during the day. In the near term, the bulls are expected to continue pushing the price upwards and reach the 4/8 level.
GBP/CHF
The GBP/CHF currency pair started moving upwards again; the Super Trends’ lines formed “bullish cross”. If the bulls are able to keep the price above the 5/8 level, the pair will continue growing up towards the 8/8 one.
The lines at the H4 and the H1 charts are completely the same. At the moment a local correction is taking place, which is supported by the Super Trend’s line. If the market rebounds from the line, the price may start a new ascending movement.
RoboForex Analytical Department
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