Murray Math Lines 01.08.2013 (AUD/USD, EUR/JPY, CAD/CHF)

Analysis for August 1^st, 2013

AUD/USD

Australian Dollar is moving inside an “oversold zone”; the bears are supported by the Super Trend. Most likely, during the next several hours, the price will break the -2/8 level and the lines at the chart will be redrawn.



At the H1 chart, the price is consolidating below the Super Trends. If the market is able to keep the price below the 3/8 level, the pair will continue falling down. In this case, the target will be at the 0/8 level.

EUR/JPY

After rebounding form the 6/8 level, the pair is being corrected. We can’t exclude a possibility that the price may test the 8/8 level and rebound from it. In this case, later the pair may break the Super Trends and reach the 4/8 level.



The lines at the H4 and H1 charts are completely the same. During a correction, I opened a sell order with the stop above the 8/8 level. I’ll move the stop into the black as soon as the price starts moving downwards.

CAD/CHF

Yesterday the pair broke the daily Super Trend. The market “touched” my stop, that’s why I’ve decided to open one more order. If later the bears are able to keep the price below the 3/8 level, the price will continue falling down. The first target for the bears is at 1/8 level.



At the H1 chart, the pair is moving inside an “oversold zone”. There is a possibility that the price may test the Super Trend, rebound from it, and start a new descending movement. If the pair breaks the -2/8 level, the lines at the chart will be redrawn.



 
RoboForex Analytical Department