Murray Math Lines 30.07.2013 (AUD/USD, EUR/GBP, GBP/CHF)

Analysis for July 30^th, 2013

AUD/USD

After rebounding from the 4/8 level and the daily Super Trend for the third time, Australian Dollar started moving upwards. The price has already broken the 3/8 level, which means that it may continue falling won. The main target for the bears is at the 0/8 level.



It’s quite logical that after the pair made such a fast movement, the Super Trends formed “bearish cross”. Most likely, the pair will start a new correction from the 1/8 level. Later the price may break the 0/8 level and enter an “oversold zone”.

EUR/GBP

It looks like the pair is completing its correction. We can’t exclude a possibility that the price may start a new descending movement in the nearest future. If the market is able to keep the price below the Super Trends, the pair will start falling down towards the 4/8 level.



At the H1 chart, the pair is moving inside an “overbought zone”. If the market breaks the 8/8 level, the price will continue falling down towards 6/8 one. The future scenario depends on how the pair will move at this level: if the pair breaks it, the market will continue moving downwards.

GBP/CHF

The pair is moving below the H4 Super Trend again. During a local correction, I opened a short-term sell order. The target is at the 0/8 level; a protective stop is above the daily Super Trend.



At the H1 chart, the bears are trying to break the 0/8 level and enter an “oversold zone”; they are supported by the Super Trends. If later the pair breaks the -2/8 level, the lines at the chart will be redrawn.



 
RoboForex Analytical Department