Murray Math Lines 25.08.2011 (GPB/CHF, NZD/USD, USD/CAD)

Analysis for August 25^th, 2011

GBP/CHF

After a very significant growth, the GPB/CHF currency pair has been consolidating for several days. This movement is supported by Super Trend’s line and the 5/8 level. If the market isn’t able to break these levels and rebounds from them, we can expect the price to start growing again.



The market tried to break the 4/8 level several times during the correction, but failed to do it each time. Most likely, the market will try to test it once more before starting to grow, and if the market rebounds from the level again, it will be a good signal to enter longs.

NZD/USD

The market is trying to continue the descending trend. However, H4 Super Trend’s line prevents the price from moving lower below it. If the price breaks the line and fixes itself below, down-trend may continue.



At the H1 chart the price managed to fix itself below the 8/8 level. Currently the market is moving between Super Trends’ lines, but wasn’t able to break neither of them so far. Taking into consideration the situation at the major charts, we can expect the price to move to the 4/8 level during the next several days.

USD/CAD

The price keeps consolidating in an overbought zone. In most case such flat is a sign that the main trend may continue, that’s why the forecast on the pair remains bullish. If the price breaks the +2/8 level, the lines will be redrawn.



At the H1 chart the correction continues between the 5/8 and 3/8 levels. Right now the market is trying to break the 3/8 level again. If it fails and the price rebounds from the level, up-trend may start again.