Murray Math Lines 04.09.2012 (GBP/CHF, GBP/JPY, EUR/JPY)

Analysis for September 4^th, 2012

GBP/CHF

The GBP/CHF currency pair continues moving near the border of an “oversold zone”. The current consolidation indicates that the price may continue falling down. The closest target for the bears is the ‑2/8 level.



At the H1 chart we can see that the Super Trends’ lines have formed “bearish cross”. The market is trying to keep the price inside an “oversold zone”. In the near term, we can expect the price to break the -2/8 level and the lines at the chart will be redrawn.

GBP/JPY

The GBP/JPY currency pair has rebounded from the daily Super Trend’s line twice. Most probably, the price will continue moving upwards in the nearest future. The closest target for the bears is the +1/8 level.



At the H1 chart we can see that the Super Trends’ lines have entered “green zone” and formed “bullish cross”. We can’t exclude a possibility that the price may break the 8/8 level within the next several days and continue growing up to, at least, the +2/8 one.

EUR/JPY

The EUR/JPY currency pair is moving above the 5/8 level, thus indicating that the price may continue growing up towards the 8/8 one. The bears haven’t been able to break the 6/8 level, which is also a signal of the growth. The pair may break the local maximum during the day.



At the H1 chart the pair is being corrected, the bulls are supported by the Super Trend’s line. In the near term, we can expect the price to continue moving upwards. If the market breaks the +2/8 level, the lines at the chart will be redrawn.