Murray Math Lines 28.08.2012 (AUD/USD, GBP/CHF, EUR/JPY)

Analysis for August 28^th, 2012

AUD/USD

Australian Dollar continues moving downwards. At the moment the correction is taking place, which is supported by the Super Trend’s line. If the price rebounds from the current levels, the pair will continue falling down towards the 4/8 one.



The price is moving in the middle of the H1 chart. There is a possibility that the bears may try to test the 5/8 level during the day, but most likely, they will rebound from it. If the market keeps the price below the 3/8 level, the pair will continue falling down towards the 0/8 one.

GBP/CHF

After rebounding from the H4 Super Trend’s line, the GBP/CHF currency pair entered an “oversold zone”. The price may continue falling down in the nearest future. The target is at the -2/8 level.



At the H1 chart we can see that the bears have been able to keep the price inside an “oversold zone”. There is a possibility that the pair may test the 0/8 level. If the market rebounds from this level, the price may start growing up again.

EUR/JPY

The EUR/JPY currency pair hasn’t been able to stay below the 6/8 level for a long time, thus indicating that the price may continue moving upwards. The bulls are supported by the Super Trend’s line. The closest target is at the 8/8 level.



At the H1 chart the pair has moved very close to the 5/8 level. If the market is able to keep the price above this level, the pair will continue growing up. The main target for the bulls is the 8/8 level, which has already been tested at major timeframes.