Murray Math Lines 21.01.2013 (AUD/JPY, GBP/CHF, SILVER)
21.01.2013
Analysis for January 21st, 2013
AUD/JPY
The AUD/JPY currency pair continues moving upwards; the bulls are supported by the H4 Super Trend’s line. Earlier the price rebounded from the 2/8 level, that’s why the next target for the buyers is at the 6/8 one.
At the H1 chart the pair is moving inside an “overbought zone”. We can’t exclude a possibility that the price may rebound from the 8/8 level and start moving upwards again. Later, the pair may break the +2/8 level and the lines at the chart will be redrawn.
GBP/CHF
The GBP/CHF currency pair made a strong descending movement and broke the daily Super Trend’s line. Right now the price is being corrected below the 3/8 level. Most likely, in the nearest future the market will continue falling down towards the 0/8 level.
The lines at the H4 and the H1 charts are completely the same. The Super Trends’ lines formed “bearish cross”. In the near term, the price is expected to start a new descending movement.
SILVER
Silver continues moving upwards; last Friday the market reached the 5/8 level and still may push the price upwards. Most likely, in the nearest future the instrument will continue growing up towards the 6/8 level.
At the H1 chart the market is consolidating near the 6/8 level; the bulls are supported by the Super Trends’ lines. If Silver rebounds from the current levels, the price may start a new ascending movement. The short-tern target is at the 8/8 level.
RoboForex Analytical Department
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.