Murray Math Lines 24.01.2013 (NZD/USD, EUR/GBP, GBP/CHF)
24.01.2013
Analysis for January 24th, 2013
NZD/USD
New Zealand Dollar started a new correction. There is a possibility that the bulls may be supported by the H4 Super Trend’s line. If the pair rebounds from the line, the price will start a new ascending movement. The main target is still at the 8/8 level.
Yesterday the pair left an “overbought zone”. If the pair rebounds from the 6/8 level, the price will start a new ascending movement. After the market breaks the +2/8 level, the lines at the chart will be redrawn
EUR/GBP
The EUR/GBP currency pair is still consolidating. If the market rebounds from the current levels, the price will start a new ascending movement. The target is at the 8/8 level.
The pair is moving in the middle of the H1 chart; the bulls are supported by the Super Trends’ lines. If the pair rebounds from the lines, the price will start growing up again.
GBP/CHF
The GBP/CHF currency pair continues consolidating; the bears are supported by the H4 Super Trend’s line. If the market rebounds from the line, the price will start a new descending movement towards the 0/8 level.
The lines at the H4 and the H1 charts are completely the same. We can’t exclude a possibility that the price may continue falling down in the nearest future. Later the 0/8 level may become a starting point of a correction.
RoboForex Analytical Department
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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.