Murray Math Lines 08.11.2012 (EUR/GBP, EUR/JPY, USD/CHF)

Analysis for November 8^th, 2012

EUR/GBP

A local correction is taking place, so I’ve decided to open one more sell order. Most likely, the price will start moving downwards during the day. The target for the bears is still at the 0/8 level.



The pair is moving in the middle of the H1 chart. Most likely, the price will try to test the 4/8 level during a correction. If the market rebounds from this level, the pair will continue falling down towards the 0/8 one.

EUR/JPY

The EUR/JPY currency pair is moving below the 3/8 level and may continue falling down towards the 0/8 one. The Super Trends’ lines formed “bearish cross“. Most likely, the price will start moving downwards again during the day.



At the H1 chart the market is being corrected, so I’ve opened another sell order. If the market rebounds from the current levels, the price will most probably enter an “oversold zone”. After the pair breaks the ‑2/8 level, the lines at the chart will be redrawn.

USD/CHF

Yesterday the USD/CHF currency pair rebounded from the H4 Super Trend. Currently the market is being corrected, that’s why I’ve opened one more buy order. Most likely, the price will start moving upwards during the day. We can’t exclude a possibility that the bulls may reach the 5/8 level by the end of the week.



The pair is moving above the 5/8 level and may continue growing up towards the 8/8 one. The Super Trends’ lines formed “bullish cross“. In the nearest future the price is expected to continue moving upwards.



 
RoboForex Analytical Department