Murray Math Lines 29.07.2011 (GBP/JPY, USD/CHF, GBP/CHF)

Analysis for July 29^th, 2011

GBP/JPY

After falling to the 2/8 level, the market allowed me to move stop on sell order into the black, thus helping to avoid any risks on the trade. In the near term, we can expect the price to continue moving downwards and reach new minimum.



The price is moving to the -2/8 level. If this level is broken, the lines will be redrawn and expanded, because they squeezed. The forecast is still bearish.

USD/CHF

Franc keeps consolidating, the correction is supported by H4 Super Trend. Most likely, the descending movement will continue, the price will break the -2/8 level and the lines will be redrawn. After down-trend resumes, I’ll move stops on sell orders to the level of the third one.



The target is still the 0/8 level. Now the price is moving inside a squeezing range. If the price leaves this range, it will be a signal for a movement to the 0/8 level where Take Profit is.

GBP/CHF

The price has rebounded from H4 Super Trend and reached new minimum. If the market fixes itself below the 3/8 level, the price will be able to move downwards to the 0/8 level. I moved stop on sell order into the black, Take Profit is at the 0/8 level.



The correction was supported by Super Trends’ lines and the descending movement continues. The price may continue falling down to the 0/8 level, or even lower. If the market breaks the -2/8 level, the lines will be redrawn.