Murray Math Lines 03.07.2013 (AUD/USD, EUR/GBP, EUR/JPY)

Analysis for July 3^rd, 2013

AUD/USD

Australian Dollar continues falling down; the bears are supported by the Super Trends’ lines. The price is already moving below the 3/8 level, which means that it may continue falling down towards the 0/8 one.



At the H1 chart, the pair is moving below the 5/8 level. We can’t exclude a possibility that the market may try to test the Super Trend’s line one more time. If the market rebounds from the line, the pair may continue falling down towards the 3/8 level or even lower.

EUR/GBP

The pair left an “overbought zone”, just as we expected. In addition to that, the price broke the Super Trends’ lines. Most likely, the pair will continue moving downwards during the day. The first target for the bears will be the 4/8 level.



The lines at the H4 and the H1 charts are completely the same. It looks like the Super Trends’ lines are going to form “bearish cross” in the nearest future. I’m planning to open one more sell order during a correction.

EUR/JPY

The market hasn’t been able to keep the price above the Super Trends’ lines for a long time, even despite “bullish cross” formed by them earlier. Most likely, in the nearest future the pair will start falling down. The target is at the 0/8 level.



At the H1 chart we can see, that the pair was just several pips away from reaching the 8/8 level; the price broke the 6/8 level and the Super Trends’ lines. There is a possibility that the market may reach the 4/8 level in the nearest future. If it breaks the level, the pair will continue falling down.



 
RoboForex Analytical Department