Murray Math Lines 16.07.2013 (AUD/USD, CAD/CHF, EUR/GBP)
16.07.2013
Analysis for July 16th, 2013
AUD/USD
Australian Dollar is still being corrected between the Super Trends’ lines. If the price returns below the H1 ST, the pair will start a new descending movement. The target is still at the 0/8 level.
At the H1 chart, the correction faced the resistance from the 5/8 level. If the pair breaks the 4/8 level and the Super Trends’ lines, the bears will return to the market and continue pushing the price towards the 0/8 one.
CAD/CHF
The pair continues moving downwards and I moved the stop on my sell order into the black. The closest target is the 4/8 level and the Super Trends’ lines. If the pair breaks these levels, the bears will continue pushing the price downwards.
At the H1 chart, the price is also moving downwards; the bears are supported by the Super Trend’s line. If later the pair rebounds from the 0/8 level, the price may start a new, deeper correction.
EUR/GBP
The pair is testing the 8/8 level once again. If the price rebounds from this level, the market will start, at least, a new correction. The first target for the bears will be the 4/8 level.
The pair is moving in the middle of the H1 chart. If the bears are able to keep the price below the 3/8 level, the pair will start moving downwards again. In this case, the target will be at the 0/8 level.
RoboForex Analytical Department
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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.