Murray Math Lines 18.02.2013 (USD/CAD, GBP/CHF, EUR/JPY)
18.02.2013
Analysis for February 18th, 2013
USD/CAD
After rebounding from the daily Super Trend’s line, the pair started a new ascending movement. The bulls are trying to keep the price above the 5/8 level. If they succeed, the pair will continue growing up towards the 8/8 level.
At the H1 chart we can see that last Friday the Super Trends’ lines formed “bullish cross”. Currently the market is consolidating. Most likely, the price will continue growing up towards the 8/8 level during the day.
GBP/CHF
The GBP/CHF currency pair is still consolidating; the bears are supported by the Super Trend’s line. Most likely, the pair will continue falling down in the nearest future; the target for the bears is at the -2/8 level.
At the H1 chart the price is moving below the 3/8 level and the Super Trends’ lines. Most likely, the pair will continue falling down towards the 0/8 level in the nearest future.
EUR/JPY
The bulls rebounded from the daily Super Trend’s line and entered an “overbought zone”. In the near term, the price is expected to break a local maximum. If later the market breaks the +2/8 level, the lines at the chart will be redrawn.
The pair is moving above the 4/8 level; earlier the Super Trends’ lines formed “bullish cross”. If the market is able to keep the price above the 5/8 level, the pair will continue growing up towards the 8/8 one.
RoboForex Analytical Department
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