Murray Math Lines 30.04.2012 (EUR/GBP, AUD/JPY, GBP/JPY)

Analysis for April 30^th, 2012

EUR/GBP

The market was opened with a small gap down on Monday morning, the price continues falling down quite fast, and this movement is supported by the Super Trends’ lines. The target level for the next several days is the 4/8 one.



At the H1 chart the pair has reached the 0/8 level. Taking into consideration the situation on major time frames, we can expect the price to break the level. If the market breaks it, the price will move on to break the -2/8 level as well and the lines at the chart will be redrawn.

AUD/JPY

The AUD/JPY currency pair continues consolidating below the 4/8 level. Earlier the price rebounded from this level once again. It looks like the market is going to continue falling down in the nearest future. The target for the bears is the 0/8 level.



At the H1 chart the lines are quite squeezed. The market rebounded from the 8/8 level. Most likely, the price will start falling down towards, at least, the 0/8 level. If the price reaches and break it, the pair will continue moving downwards.

GBP/JPY

The GBP/JPY currency pair has been consolidating between the 5/8 and 3/8 levels over the last several days. Taking into consideration the fact that the Super Trends’ lines formed “bearish cross”, we may assume that the correction is just a pause before the local trend continues. The target for the buyers is at the 8/8 level.



At the H1 chart the 6/8 level turned out to be a very strong resistance line. In the nearest future the bulls may break the +2/8 level. If they succeed, the lines at the chart will be redrawn and we will get new targets.