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.
RoboForex Analytical Department