Murray Math Lines 27.07.2011 (USD/CHF, GBP/JPY, GOLD)

Analysis for July 27^th, 2011

USD/CHF

After breaking and fixing itself below the 1/8 level at the daily chart, the price keeps moving towards the 0/8 level, where Take Profit on sell orders is. The market may reach this level during the week.



At the H4 chart the price entered oversold zone, just below the 0/8 level. If the descending movement continues and the price breaks the +2/8 level, the lines will be redrawn and be similar to other charts.



At the H1 chart the price keeps consolidating between the 4/8 level and Super Trends’ lines and I opened the third sell order. The target here is the 0/8 level, the same as at the daily chart.

GBP/JPY

Yesterday the market rebounded from the 4/8 level again, the third time in a row. Now the price is attempting to break H4 Super Trend’s line and fix itself below it. If the price succeeds, down-trend may resume its movement.



At the H1 chart lines squeezed. The forecast is still bearish. If the descending trend continues and the price breaks the +2/8 level, the lines will be redrawn

GOLD

The market wasn’t able to break the 8/8 level, thus indicating a possible correction. The first target may be the 6/8 level. If the price rebounds from it, we can expect up-trend to continue. But if the market is able to break the 8/8 level anyhow, it will be a signal for the price to continue growing.



At the H1 chart the price is at the 8/8 level and is trying to rebound from it. If the price succeeds, it will be able to move downwards to the 4/8 level. If the market breaks Super Trends’ lines and fixes itself below them, the correction may take place.