Murray Math Lines 11.02.2013 (NZD/USD, AUD/JPY, USD/CHF)

Analysis for February 11^th, 2013

NZD/USD

The 4/8 level is a very strong support level; the price rebounded from it many times and then always started moving upwards. We can’t exclude a possibility that it may happen again this time. The target for the bulls is still at the 8/8 level.



At the H1 chart the pair rebounded from the 0/8 level and I decided to open a buy order. Now the bulls have to keep the price above the Super Trends’ lines. If they succeed, the pair may start a new ascending movement.

AUD/JPY

Finally, the pair was supported by the daily Super Trend’s line. The bulls are trying to rebound from the line and start a new ascending movement towards the 8/8 level. If they succeed in keeping the price above the Super Trends’ lines, it will confirm this scenario.



At the H1 chart we can see that the pair rebounded from the 4/8 level twice. Right now the price is moving between the Super Trends’ lines. We can’t exclude a possibility that the pair may break the 8/8 level and the bulls may enter an “overbought zone”. If later the price breaks the +2/8 level, the lines at the chart will be redrawn.

USD/CHF

The price rebounded from the 4/8 level and started a correction; the bears are supported by the daily Super Trend’s line. If they are able to keep the price below the H4 Super Trend’s line, the pair will continue falling down. The target is at the 0/8 level.



At the H1 chart we can see that the price started a correction form the 0/8 level. However, the bears still may become dominant. If the price breaks the Super Trends’ lines backwards, the bears may start a new descending movement and enter an “oversold zone”.



 
RoboForex Analytical Department