Murray Math Lines 02.09.2011 (EUR/JPY, EUR/CHF, GBP/USD)

Analysis for September 2^nd, 2011

EUR/JPY

After rebounding from the daily Super Trend, the market got very close to the 0/8 level. If the market breaks this level and fixes itself below it, the price may continue falling down to the -2/8 level. After that, the lines will be redrawn.



At the H1 chart the price is also at the 0/8 level. The forecast of the price movement is shown on the chart. Most likely, the price will break this level and move to the -2/8 one during the day. After that we can expect the lines to be redrawn.

EUR/CHF

After the market has left an overbought zone and Super Trends have formed a “Bearish Cross”, the EUR/CHF currency pair indicated that the price may continue moving downwards. The first target for bears is the 4/8 level. If the price breaks this level, it may fall even lower.



At the H1 chart the price is getting to the 0/8 level very fast. Most likely, this level will not be able to slow down bears, and they will break it. Then we can expect the price to move the -2/8 level. After this level is broken, the lines will be redrawn.

GBP/USD

After rebounding from the 4/8 level, Pound is likely to reach the 0/8 level within the next several days. The market got very close to the daily Super Trend. In case this level is broken, the price is surely to reach the 0/8 one.



At the H4 chart the market rebounded from the 8/8 level, and then Super Trends formed a “Bearish Cross”. At the moment the price is getting close to the 0/8 level. Taking into consideration the situation at the major charts, we can expect the price to break the level and then continue moving downwards.