Murray Math Lines 06.02.2013 (EUR/GBP, AUD/JPY, USD/CAD)

Analysis for February 6^th, 2013

EUR/GBP

Yesterday the EUR/GBP currency pair started growing up again; the H4 Super Trend’s line is a support level. Most likely, the price will rebound from the line and continue moving upwards to reach the 8/8 level.



At the H1 chart the bulls are trying to enter an “overbought zone”; they may break the 8/8 level during the day. Later the price is expected to break the +2/8 level. In this case, the lines at the chart will be redrawn.

AUD/JPY

The AUD/JPY currency pair continues growing up; the bulls are supported by the Super Trends’ lines. The price is already moving above the 5/8 level, so the pair is expected to continue growing up towards the 8/8 one.



At the H1 chart the buyers are trying to leave an “overbought zone”. If the price rebounds from the H4 Super Trend’s line, the pair may start a new ascending movement. After the market breaks the +2/8 level, the lines at the chart will be redrawn.

USD/CAD

The Super Trends’ lines formed “bearish cross” and the pair started moving downwards again. If the bears are able to break the 3/8 level and keep the price below it, the market will continue moving downwards. The target is the 0/8 level.



At the H1 chart we can see that the price is already moving in below the 3/8 level, so the pair is expected to continue falling down towards the 0/8 one. Later, this level may become a starting point of a local correction



 
RoboForex Analytical Department