Murray Math Lines 02.07.2013 (AUD/USD, GBP/CHF, EUR/GBP)

Analysis for July 2^nd, 2013

AUD/USD

Australian Dollar is still being corrected. We can’t exclude a possibility that the bulls may try to test the 4/8 level. If the market rebounds from this level, the pair will continue falling down towards the 0/8 one.



At the H1 chart, the pair left an “oversold zone”. Yesterday the market tried to keep the price above the Super Trends’ lines, but failed. However, there is a strong possibility that the pair may try to test the 4/8 level. If the market rebounds from this level, I’ll open several more sell orders.

GBP/CHF

The pair is consolidating. This correction is taking the form of triangle pattern, which may be a signal that the down-trend may continue.  The target for the next several days is at the 0/8 level.



The pair is moving in the middle of the H1 chart; the bears are supported by the Super Trends’ lines. The intermediate target is at the 0/8 level. Most likely, the market will break it and the sellers will continue pushing the price towards new minimums.

EUR/GBP

The pair is moving inside an “overbought zone” again. Earlier the price rebounded from this levels several times. We can’t exclude a possibility that it may happen again, that’s why I opened several sell orders with the target above the +2/8 level.



The lines at the H4 and the H1 charts are completely the same. If the market is able to break the Super Trends’ lines and keep the price below them, the pair will start a new descending movement. The first target for the bears is at the 4/8 level.



 
RoboForex Analytical Department