Murray Math Lines 28.01.2013 (AUD/USD, USD/CAD, GBP/JPY)
28.01.2013
Analysis for January 28th, 2013
AUD/USD
Australian Dollar continues moving downwards steadily; the Super Trends’ lines formed “bearish cross”. After completing a local correction, the market may start a new descending movement. The target is at the 0/8 level.
At the H1 chart the bears are pushing the price towards the 0/8 level quite fast; they are supported by the Super Trends’ lines. If the pair rebounds from the current levels, the price may start a new descending movement.
USD/CAD
Canadian Dollar continues moving upwards; right now the bulls are trying to keep the price above the 5/8 level. If they succeed, the pair will continue growing up towards the 8/8 level.
The pair is moving in the upper part of the H1 chart. Most likely, the price will start a new ascending movement during the week. The short-term target is at the +2/8 level.
GBP/JPY
The GBP/JPY currency pair is trying to enter an “overbought zone”. We can’t exclude a possibility that the price may break the 8/8 level during Monday. If later the market breaks the +2/8 level, the lines at the chart will be redrawn.
The pair is moving in the upper part of the H1 chart; the bears are supported by the Super Trends’ lines. Most likely, the market will break the +2/8 level in the nearest future and the lines at the chart will be redrawn.
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.