Murray Math Lines 30.08.2012 (AUD/USD, GBP/CHF, EUR/JPY)

Analysis for August 30^th, 2012

AUD/USD

Australian Dollar continues falling down. After rebounding from the Super Trend’s line, the bears have moved very close to the 1/8 level and may break it during the next several days. The main target is still at the 0/8 level.



At the H1 chart we can see that the pair is moving below the 3/8 level, thus indicating that the price may continue falling down towards the 0/8 one. If the pair rebounds from the H1 Super Trend’s line, the price may continue moving downwards. During the correction I’ve opened a new sell order, the third one.

GBP/CHF

The bears’ first attempt to keep the price inside an “oversold zone” failed. However, we can’t exclude a possibility that they can try to break the 0/8 level during the day one more time. The main target is still at the -2/8 level.



The pair is moving in the lower part of the H1 chart. It looks like the bears are going to enter an “oversold zone” again during the next several hours. If the price breaks the -2/8 level, the lines at the chart will be redrawn.

EUR/JPY

At the H4 chart the EUR/JPY currency pair is moving above the 6/8 level, the bulls are supported by the Super Trend’s line. If the price rebounds from the current levels, the pair will continue growing up. The short-term target is at the 8/8 level.



At the H1 chart the pair is being corrected between the 6/8 and 4/8 levels. We can’t exclude a possibility that the bulls may break this trading range during the next several days and continue pushing the price upwards. They may reach the 8/8 level in the nearest future.