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Murray Math Lines 31.01.2013 (GBP/CHF, CAD/JPY, EUR/JPY)

31.01.2013

Analysis for January 31st, 2013

GBP/CHF

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 one.



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.



CAD/JPY

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 level.



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.



EUR/JPY

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 level.



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 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 LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

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