Murray Math Lines 07.11.2012 (EUR/GBP, GBP/CHF, NZD/JPY)

Analysis for November 7^th, 2012

EUR/GBP

The bears are supported by the 3/8 level and the H4 Super Trend’s line. If the market rebounds from the current levels, the price will continue falling down. The short-term target is at the 0/8 level.



At the H1 chart the bulls were stopped at the 6/8 level. The Super Trends’ lines are still under pressure of “bearish cross”. If the bears break the 4/8 level and then keep the price below the 3/8 one, the pair will continue falling down towards the 0/8 level.

GBP/CHF

Yesterday the bears did manage to rebound from the 7/8 level, however, they are not strong enough to break the H4 Super Trend’s line so far. If they finally break the line, the price will continue moving downwards. The first target for the sellers will be at the 4/8 level.



At the H1 chart the bears faced the resistance at the 5/8 level. If they are able to break this level and then keep the price below the 3/8 one, the pair will continue falling down towards the 0/8 level. Considering that the situation is quite unstable, I’ve moved the stop on my sell order into the black.

NZD/JPY

Yesterday the pair rebounded from the 5/8 level. Today the price is one again moving above the H4 Super Trend’s line. In the near term, we can expect the pair to continue growing up slowly. The target is at the 8/8 level.



At the H1 chart we can see that the Super Trends’ lines couldn’t form “bearish cross”. The price is moving above the 2/8 level and may continue growing up towards the 4/8 one. Later this level may become a starting point of a correction.



 
RoboForex Analytical Department