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Home / Analytics / Forex analysis & forecasts / Forex Murray math lines and forecasts / Murray Math Lines 04.01.2013 (AUD/JPY, GBP/CHF, SILVER)

Murray Math Lines 04.01.2013 (AUD/JPY, GBP/CHF, SILVER)

04.01.2013
0

Analysis for January 4th, 2013

AUD/JPY

The AUD/JPY currency pair continues growing up. Last Friday the price left the consolidation channel. If the bulls are able to break the 7/8 level, the price will start a new ascending movement. The target for the buyers for the next several days is at the 8/8 level.



At the H1 chart the price rebounded from the Super Trends’ lines and started moving upwards. Most likely, the bulls will reach more than just one new local maximum. The market is already moving above the 5/8 level, that’s why we can expect it to reach the 8/8 one within the next couple of days.



GBP/CHF

The pair rebounded from the 1/8 level and started moving upwards; the Super Trends’ lines formed “bullish cross”. If the market keeps the price above the 5/8 level, the pair will continue growing up towards the 8/8 one.



At the H1 chart the pair is moving inside an “overbought zone”. We can’t exclude a possibility that the price may try to test the Super Trend’s lines one more time. In the near term, the price may break the +2/8 level and the lines at the chart will be redrawn.



SILVER

After rebounding from the 4/8 level, Silver started a new descending movement. Most likely, the price will continue falling sown in the nearest future. The target for the bears for the next several days is at the 0/8 level.



At the H1 chart the instrument is moving inside an “oversold zone”; the Super Trends’ lines formed “bearish cross”. Most likely, in the nearest future will break the -2/8 level and 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 LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.