Murray Math Lines 29.07.2013 (AUD/USD, EUR/GBP, CAD/CHF)

Analysis for July 29^th, 2013

AUD/USD

Australian Dollar is making the third attempt to rebound from the 4/8 level and the daily Super Trend. During the previous correction, I opened a sell order; the stop is already in the black. Now the bears have to keep the price below the H4 Super Trend.



At the H1 chart the bulls faced the resistance from the 8/8 level. The intermediate target for the sellers is the 4/8 level. If they break it, the pair will continue falling down towards the 3/8 one and break it as well.

EUR/GBP

The pair is still being corrected. Earlier the price left an “overbought zone” and even broke the 6/8 level. There is a possibility that in the nearest future the pair may stop its local ascending movement and break the Super Trends.



At the H1 chart, the pair is being corrected above the Super Trend. Most likely, the price will break the maximum during the day. However, if later the market is able to keep the price below the Super Trends, the pair may break the -2/8 level. In this case, the lines at the chart will be redrawn.

CAD/CHF

At the H4 chart, the pair is moving between the Super Trends. If later the bears are able to break the 4/8 level and the daily Super Trend, and then the 3/8 level as well, the market will continue falling down towards the main target at the 0/8 one.



At the H1 chart, price is being corrected; the bears are supported by the Super Trend. It looks like they may break the -2/8 level in the nearest future. In this case, the lines at the chart will be redrawn.



 
RoboForex Analytical Department