Murray Math Lines 15.10.2012 (EUR/JPY, NZD/USD, GBP/CHF)

Analysis for October 15^th, 2012

EUR/JPY

The EUR/JPY currency pair is still being corrected, the Super Trends’ lines are moving in parallel. If the bears are able to keep the price above the lines, the market will continue moving downwards. The target is at the 0/8 level.



There is a possibility that the bulls may face resistance at the 5/8 level. If the price rebounds from this level, the bears will start moving the price in their direction. The short-term target is at the 0/8 level, but the seller will most probably break it.

NZD/USD

After falling down last Friday, the NZD/USD currency pair is being corrected, and I’ve opened one more sell order. Earlier the pair rebounded from the H4 Super Trend’s line. In the near term, the price is expected to continue falling down towards the 4/8 level.



At the H1 chart we can see that the price is just several tens of pips away from the 0/8 level. Most likely, the price will break this level and continue moving downwards. If the market breaks the -2/8 level, the lines at the chart will be redrawn.

GBP/CHF

The bulls couldn’t keep the price above the 2/8 level for a long time and the pair started falling down again. Considering that the current consolidation is taking too much time, the pair is expected not only to reach the 0/8 level, but to break it and continue falling down towards the -2/8 one as well.



At the H1 chart the pair rebounded from the 4/8 level, the bears are trying to keep the price below the Super Trends’ lines. The market may reach a new local minimum in the nearest future. The target for Monday and Tuesday is at the 0/8 level.




RoboForex Analytical Department