Murray Math Lines 26.07.2011 (GBP/JPY, AUD/USD, GBP/CHF)

Analysis for July 26^th, 2011

GBP/JPY

The price is still consolidating. The 4/8 level doesn’t allow the market to grow any higher, the price rebounded from the level several times. Forecast of the price movement is shown on the chart. In the near term, we can expect down-trend to resume its movement and reach the 0/8 level.



Lines squeezed at the H1 chart. The price rebounded from the 8/8 level several times. Within the next several hours we can expect the price to start moving to the 0/8 level, or may be even lower. In future the lines most likely will expand and be redrawn.

AUD/USD

The price keeps growing inside the rising trend. Bulls are supported by the daily Super Trend. If the market breaks the 5/8 level and fixes itself above it, the price will be able to grow to the 8/8 level where Take Profit on buy order is.



The price is moving inside the overbought zone, thus indicating a possible breaking of the +2/8 level. When the price breaks this level, the lines at the H4 chart will be redrawn and we’ll have new targets which may be the same as at the daily chart.

GBP/CHF

The price has fixed itself below H4 Super trend and rebounded from it. If the market breaks the 3/8 level, the price will be able to continue falling down to the 0/8 level where Take Profit on sell order is.



At the H1 chart we can see that the 2/8 level slowed down the descending price movement. The correction started here and it is supported by Super Trends. Forecast of the price movement is shown on the chart. In the near term, we can expect down-trend to continue.