Murray Math Lines 24.08.2011 (NZD/USD, USD/CAD, GOLD)

Analysis for August 24^th, 2011

NZD/USD

The price fell down a bit over the last few hours, thus indicating the start of the movement to the 0/8 level. If the price breaks H4 Super Trend’s line and fixes itself below it, down-trend may start again. Traders, who are more conservative, are recommended to wait until the price breaks the 3/8 level, as it will be a much safer signal, although the point of entry will be a bit worse.



At the H1 chart the price rebounded from the +1/8 level and went back below the 0/8 level. At the moment the market is between Super Trends’ lines. The price breaking H4 Super Trend’s line and forming “Bearish Cross” will be a good signal.

USD/CAD

The market is forming “triangle”, a pattern from classical technical analysis, in an overbought zone, thus enhancing the likelihood that the price may start growing again and the lines at the H4 chart may be redrawn. After the market breaks the pattern’s upper border, one can try to buy the pair.



At the H1 chart the price is still consolidating between the 5/8 and 3/8 levels. Most likely, the market will try to test Super Trend’s line once again. If it rebounds from the line, there will be a strong bullish signal confirming that the price will continue growing.

GOLD

No matter how strong bulls are, they can’t push the price upwards forever. Yesterday we saw a strong price pullback, but H4 Super Trend was able to prevent the price from being deeply corrected. Most likely, the price will start growing again during the next several days.



At the H1 chart the price tried to break the 3/8 level, but didn’t succeed and fixed itself above it. If the market doesn’t try to break this level in the future, up-trend may continue.