Murray Math Lines 30.01.2013 (NZD/USD, CAD/CHF, EUR/JPY)
30.01.2013
Analysis for January 30th, 2013
NZD/USD
New Zealand Dollar rebounded from the 4/8 level and the daily Super Trend’s line. 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 one.
At the H1 chart the Super Trends’ lines formed “bullish cross”. Most likely, in the nearest future the price will enter an “overbought zone” and break a local maximum. After the market breaks the +2/8 level, the lines at the chart will be redrawn.
CAD/CHF
The CAD/CHF currency pair is consolidating below the 3/8 level; the bears are supported by the H4 Super Trend’s line. We can’t exclude a possibility that in the nearest future the price may start a new descending movement. The target is at the 0/8 level
The lines at the H4 and the H1 charts are completely the same. There is a possibility that the price may try to test the Super Trends’ lines. If it rebounds from the lines, the pair may start a new descending movement.
EUR/JPY
The EUR/JPY currency pair rebounded from the H4 Super Trend’s line. Now the bulls have to continue pushing the price upwards to reach the 8/8 level. We can’t exclude a possibility that the market may break a local maximum on Wednesday or Thursday.
At the H1 chart the EUR/JPY currency pair is moving inside an “overbought zone”. Earlier the bears tried to push the price out of this range, but failed. Now we can expect the pair to break the +2/8 level, and if it does, the lines at the chart will be redrawn.
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