Murray Math Lines 05.07.2013 (AUD/USD, GBP/CHF, EUR/JPY)

Analysis for July 5^th, 2013

AUD/USD

After rebounding form the 2/8 level, the pair started a correction. Right now, the market is moving close to the H4 Super Trend’s line. I’m planning to place a limit order after a correction. The target is still at the 0/8 level.



At the H1 chart, the bears faced the resistance form the 4/8 level. We can’t exclude a possibility that the price may try to test the 7/8 level: if the pair rebounds from it, the pair will start a new descending movement. If the market is able to keep the price below the Super Trends’ lines, it will be one more signal that the bears are going to return.

GBP/CHF

The market is still consolidating below the daily Super Trend’s line; it looks like the price formed triangle, a classical continuation pattern. Yesterday the bears tried to break the 5/8 level, but failed. However, they may try to do it again in the nearest future.



At the H1 chart, the Super Trends’ lines are about to form “bearish cross”. There is a possibility that the bears’ second attempt to enter an “oversold zone” may be successful. After the price breaks the -2/8 level, the lines at the chart will be redrawn.

EUR/JPY

The market rebounded from the 4/8 level and right now is moving below the Super Trends’ lines. Most likely, the pair will break the 2/8 level during the day. The main target for the sellers is at the 0/8 level.



At the H1 chart, the Super Trends’ lines formed “bearish cross”; the price is trying to leave a consolidation channel, it has been moving for the last several days. The first target for the sellers is at the 3/8 level: if they break it, the pair will continue falling down.



 
RoboForex Analytical Department