Murray Math Lines 16.10.2012 (EUR/JPY, NZD/USD, GBP/CHF)

Analysis for October 16^th, 2012

EUR/JPY

It looks like the pair is going to test the 8/8 level once again. If the price rebounds from the level, the pair will start moving downwards again. The bears may return to the market if the market keeps the price below the Super Trends’ lines.



At the H1 chart we can see that the bulls are “dominant”, they are supported by the Super Trends’ lines. The price may reach the 8/8 level during the day. Later the pair is expected to make a reverse and start moving downwards.

NZD/USD

New Zealand Dollar is going to test the H4 Super Trend’s line one more time. If the market rebounds from the line, the price will start falling down again. The target for the next several days is at the 0/8 level.



The pair is moving in the middle of the H1 chart, the bulls are supported by the 4/8 level so far. There is a possibility that the pair may start falling down again during the day. If the market breaks the -2/8 level, the lines at the chart will be redrawn.

GBP/CHF

The GBP/CHF currency pair is still consolidating near the H4 Super Trend’s line. We can’t exclude a possibility that the price may start moving downwards in the nearest future. The target for the next several days is the -2/8 level. If the pair breaks it, the lines at the chart will be redrawn.



At the H1 chart the Super Trends’ lines are trying to form “bearish cross”. If the market is able to keep the price below the 3/8 level, the pair will continue falling down towards the 0/8 one. However, the sellers are likely to break this level too.



 
RoboForex Analytical Department