Murray Math Lines 12.07.2013 (AUD/USD, EUR/GBP, AUD/JPY)

Analysis for July 12^th, 2013

AUD/USD

The pair rebounded from the daily Super Trend’s line and the 4/8 level. If the bears are able to keep the price below the 3/8 level, the pair will continue falling down. The target is at the 0/8 level. During a correction, I opened one more sell order.



At the H1 chart, the market is being corrected; the price is supported by the 5/8 level. Most likely, in the nearest future the price will start moving downwards again. The target for the bears is the 0/8 level.

EUR/GBP

Yesterday the pair rebounded from the 8/8 level. During a correction, I opened a sell order with the tight stop. The intermediate target is at the 4/8 level: if the price breaks it, the market will continue moving downwards.



The lines at the H4 and H1 charts are completely the same; the Super Trends’ lines formed “bearish cross”. The pair may break its local minimum during the day.

AUD/JPY

After making a descending movement yesterday, the price started a correction, and I decided to open one more sell order. The Super Trends’ lines formed “bearish cross. The main target for the next several days is at the 0/8 level.



The bears’ first attempt to keep the price inside an “oversold zone” failed. However, the pair has already rebounded from the 1/8 level. There is a possibility that in the nearest future the price may break the ‑2/8 level. In this case, the lines at the chart will be redrawn.



 
RoboForex Analytical Department