Murray Math Lines 14.05.2012 (AUD/USD, EUR/JPY, GBP/CHF)

Analysis for May 14^th, 2012

AUD/USD

Australian Dollar continues falling down towards the 0/8 level steadily, the bears are supported by the H4 Super Trend’s line. The pair broke the 2/8 level after the market opening on Monday morning. The price may reach the target level within the next several days.



At the H1 chart the pair has entered an “oversold zone”. It looks like the price is going to break -2/8 level, and if it happens the lines at the chart will be redrawn. In the near term, we can expect the pair to continue falling down.

EUR/JPY

The EUR/JPY continues consolidating below the H4 Super Trend’s line. It looks like the bears are ready to continue pushing the market downwards. The target level for the next several days is the 0/8 one.



At the H1 chart the pair is trying to stay inside an “oversold zone”. The H4 Super Trend remains a very strong obstacle for the bulls. Most likely, in the nearest future the price will break the -2/8 and the lines at the chart will be redrawn.

GBP/CHF

Despite the fact that last Friday the market “erased” my stop which was in black, on Monday the market was opened with a gap up. That’s why I’ve decided to open an order once again. The target for the bulls is still at the 8/8 level.



At the H1 chart the pair is moving above the 5/8 level, thus indicating that it may continue growing up. The main target is at the 8/8 level. It looks like the price is going to continue moving upwards in the nearest future.