Analysis for January 31st, 2013
The GBP/CHF currency pair is still moving downwards; the bears are supported by the Super Trends’ lines. The price is already moving below the 3/8
level, so we can expect it to continue falling down towards the 0/8
At the H1 chart we can see that the pair entered an “oversold zone”. Most likely, in the nearest future the price will start a new descending movement. After the market breaks the -2/8
level, the lines at the chart will be redrawn.
After rebounding from the H4 Super Trend’s line, the CAD/JPY currency pair started moving upwards again. We can’t exclude a possibility that in the nearest future the price may break a local maximum. The main target for the bulls is the 8/8
At the H1 chart the market is moving inside an “overbought zone”. Yesterday the price rebounded from the 8/8
level and started a new ascending movement. Later the pair is expected to break the +2/8
level. In this case the lines at the chart will be redrawn.
The EUR/JPY currency pair broke a local maximum; the bulls are supported by the Super Trends’ lines. Most likely, in the nearest future the price will continue growing up. The main target for the bulls is the 8/8
At the H1 chart the pair is consolidating; there is a possibility that it may test the H4 Super Trend’s line. Alter the price is expected to continue growing up towards the 8/8
RoboForex Analytical Department