Murray Math Lines 29.08.2012 (AUD/USD, EUR/GBP, EUR/JPY)

Analysis for August 29^th, 2012

AUD/USD

Australian Dollar continues moving inside the descending trend. At the moment the pair is being corrected, that’s why I’ve decided to place a limit sell order a bit above the local maximum. The main target is still at the 0/8 level.



The price is moving in the middle of the H1 chart. There is a possibility that the pair may try to test the 5/8 level. In case the price rebounds from this level, the pair will continue falling down towards the 0/8 one.

EUR/GBP

The EUR/GBP currency pair started moving upwards. The bulls are supported by the Super Trends’ lines. If the market is able to keep the price above the 5/8 level, the pair will continue growing up towards the 8/8 one. Today I’ve opened a short-term buy order with the target at the latter level.



At the H1 chart the pair is being corrected. If the bulls are able rebound from the H4 Super Trend’s line, the price will start moving upwards. If later the price breaks the +2/8 level, the lines at the chart will be redrawn.

EUR/JPY

The EUR/JPY currency pair is again moving above the 6/8, this movement is supported by the H4 Super Trend. If the market rebounds from the current levels, the price will continue moving upwards. The closest target is the 8/8 level.



At the H1 chart the price is near the 4/8 level. Most likely, the pair will rebound from it during the day and continue growing up. The short-term target is at the 8/8 level.