Murray Math Lines 15.11.2012 (NZD/USD, USD/CAD, GBP/CHF)
15.11.2012
Analysis for November 15th, 2012
NZD/USD
After rebounding from the H4 Super Trend’s line, the price started moving downwards. At the moment a local correction is taking place, so I’ve decided to open another sell order. The main target is at the 0/8 level.
The lines at the H4 and the H1 charts are completely the same, the bears are supported by the Super Trends’ lines. If the price rebounds from the current levels, the pair will start falling down towards the 0/8 one.
USD/CAD
Canadian Dollar entered an “overbought zone”. At the moment the bulls are trying to keep the price above the 8/8 level, they are supported by the Super Trends’ lines. If the price rebounds from the current levels, the market will break the +2/8 one.
The lines at the H4 and the H1 charts are completely the same. The market is testing the 8/8 level. If the market rebounds from this level, the price will start moving upwards. After the pair breaks the +2/8 level, the lines at the chart will be redrawn.
GBP/CHF
The GBP/CHF currency pair continues falling down. At the H4 chart the Super Trends’ lines formed “bearish cross”. Most likely, the price will continue moving downwards during the next several days. The target for the sellers I sat the 0/8 level.
At the H1 chart we can see that the price got very close to the lower border of an “oversold zone”. Most likely, the 0/8 level will be broken in the nearest future. If later the market breaks the -2/8 level, the lines at the chart will be redrawn.
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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.