Murray Math Lines 04.07.2013 (AUD/USD, EUR/GBP, AUD/JPY)

Analysis for July 4^th, 2013

AUD/USD

Australian Dollar continues falling down; the bears were able to keep the price below the H4 Super Trend’s line and the 3/8 level. Now the target for them is the 0/8 level, which may later become a starting point of a new correction.



At the H1 chart, the pair is moving between the Super Trends’ lines. We can’t exclude a possibility that the market may try to test the 6/8 level. If the market rebounds from the line, the pair will continue falling down towards the 2/8 level.

EUR/GBP

The pair is being corrected and I decided to open one more sell order. If the bears are able to keep the price below the daily Super Trend’s line, they will continue pushing it towards the 4/8 level. If the market breaks this level, the descending trend will continue.



The lines at the H4 and the H1 charts are completely the same; the Super Trends’ lines formed “bearish cross”. There is a possibility that the price may break the minimum during the day.

AUD/JPY

Yesterday the pair rebounded from the daily Super Trend’s line, which is a good signal of a new descending movement. If the bears are able to keep the price below the 2/8 level, the pair will continue falling down to reach the 0/8 one.



The pair is moving in the middle of the chart; the Super Trends’ lines are still under pressure of “bearish cross”. If the market is able to keep the price below the 3/8 level, the pair will continue falling down towards the 0/8 one.



 
RoboForex Analytical Department