Murray Math Lines 12.11.2012 (NZD/USD, EUR/JPY, CAD/JPY)
12.11.2012
Analysis for November 12th, 2012
NZD/USD
The NZD/USD currency pair rebounded from the 8/8 level and the Super Trends’ lines formed “bearish cross”. Currently a local correction is taking place and I’ve decide to open a short-term sell order. The target for the next several days is at the 0/8 level.
The lines at the H4 and the H1 charts are completely the same, the pair is being corrected. There is a possibility that the bulls may try to test the 4/8 level. If the price rebounds from this level, the market will start falling down towards the 0/8 one.
EUR/JPY
The EUR/JPY currency pair continues moving downwards. The Super Trends’ lines are still under pressure of “bearish cross”. We can’t exclude a possibility that the price may continue falling down during the day. The target is still at the 0/8 level.
The lines at the H4 and the H1 charts are completely the same. The bulls haven’t been able to keep the price above the Super Trend’s line so far. Most likely, the pair will start a new descending movement towards the 0/8 level.
CAD/JPY
The CAD/JPY currency pair broke the Super Trends’ lines before they even could form “bearish cross”. Most likely, in the nearest future the sellers will be able to keep the price below the 3/8 level. In this case the market may continue falling down and reach the 0/8 one.
The lines at the H4 and the H1 charts are completely the same. At the moment the pair is being corrected in the middle of the chart. The target for the bears for the next several days is at the 0/8 level.
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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.