Murray Math Lines 08.07.2013 (AUD/USD, GBP/CHF, EUR/JPY)

Analysis for July 8^th, 2013

AUD/USD

Australian Dollar is still moving downwards. After rebounding from the 3/8 level twice, the pair almost reached a local minimum. Most likely, the market will reach the 0/8 level during the week. If later the bulls are able to rebound from this level, the pair may start a new correction.



The pair is moving in the middle of the H1 chart; the bears are supported by the Super Trend’s line. If they are able to keep the price below the 3/8 level, the pair will continue falling down towards the 0/8 one.

GBP/CHF

The market is trying to keep the price below the H$ Super Trend’s line. The pair is already moving below the 6/8 level, that’s why the next target for the bears is at the 4/8 one. If later the market break it, the price will continue falling down.



At the H1 chart, the Super Trends’ lines are still under pressure of “bearish cross”. There is a possibility that the bears may enter an “oversold zone” in the nearest future. After the price breaks the -2/8 level, the lines at the chart will be redrawn.

EUR/JPY

The market started moving and reached the stops on my sell orders, which were in the black. There is a possibility that in the nearest future the pair may start growing up a little bit and reach the 8/8 level. That’s why I’ve opened a buy order with the target at the above-mentioned level.



At the H1 chart, the Super Trends’ lines formed “bullish cross”. The price is already moving above the 5/8 level, so we can expect it to continue growing up. The main target for the buyers is the 8/8 level, where my Take Profit is placed.



 
RoboForex Analytical Department