Murray Math Lines 25.06.2013 (AUD/USD, EUR/GBP, CAD/JPY)
25.06.2013
Analysis for June 25th, 2013
AUD/USD
Australian Dollar started a correction; the bears are supported by the H4 Super Trend’s line and the 6/8 level. If the price rebounds from these levels, the pair will start a new descending movement towards the 4/8 one.
The pair is moving in the middle of the H1 chart. If later the market is able to break the 3/8 level and keep the price below it, the bears will return and continue pushing the pair towards the 0/8 one.
EUR/GBP
The pair left an “overbought zone” again. If the bears are able to keep the price below the 6/8 level, the market may start a deeper correction. The short-term target is at the 4/8 level.
The market hasn’t been able to break the 7/8 level; the Super Trends’ lines have formed “bearish cross”. Yesterday the price tested the 0/8 level and then started a correction. Most likely, the price will try to test this level once again during the day.
CAD/JPY
The pair is moving in the middle of the chart. During a local correction, I opened a sell order. Considering that earlier the pair rebounded from the 6/8 level, later it is expected to continue falling down towards the 2/8 one.
At the H1 chart, the Super Trends’ lines formed “bearish cross”. If the bears break the 6/8 level, the price will continue moving downwards. In this case, the target will be at the 4/8 level.
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