Murray Math Lines 25.07.2011 (USD/CHF, GBP/JPY, GOLD)

Analysis for July 25^th, 2011

USD/CHF

During the market trading opening the USD/CHF currency pair was moving exactly according to the forecast and was able to reach new minimum. I moved the stop on sell orders to the level of the second one. Take Profit is still at the 0/8 level. The descending movement may continue during the day.



The price has broken the 0/8 level at the H1 chart and is not going to move up. If the market continues falling down and breaks the -2/8 level, the lines will be redrawn, and, most likely will be the same as the lines at the daily chart.

GBP/JPY

The market wasn’t able to break the 4/8 level and rebounded from it. The price went below H4 Super Trend’s line again, which, in its turn, is red zone again. Now we can expect down-trend to resume its movement.



H4 and H1 Super Trends are trying to make the bearish crossing. If they succeed, it will be a good signal to keep holding short positions. The first target is the price breaking the 4/8 level and fixing itself below it.

GOLD

The price has almost reached an important 8/8 level. Now everything depends on the way market will move at this level. If the market breaks it, the upward movement will continue. However, if the market rebounds from it, the correction will take place to, at least, the6/8 level.



At the H1 chart we can see that the 8/8 level has been tested several times. The market may test it once more, and if it rebounds from the level, the correction will start. In any case, we should follow the market situation.