Murray Math Lines 19.02.2013 (USD/CAD, GBP/CHF, EUR/JPY)
19.02.2013
Analysis for February 19th, 2013
USD/CAD
Canadian Dollar continues moving upwards; the bulls are supported by the Super Trends’ lines. Yesterday the market broke a local maximum and now is trying to keep the price above it. The main target is still at the 8/8 level.
At the H1 chart a local correction is taking place; I decided to open one more buy order. Most likely, the bulls will enter an “overbought zone” in the nearest future. If later the market breaks the +2/8 level, the lines at the chart will be redrawn.
GBP/CHF
The GBP/CHF currency pair is still consolidating below the Super Trend’s line. Most likely, in the nearest future the bears will become more active and enter an “oversold zone”. If the price breaks the -2/8 level, the lines at the chart will be redrawn.
The Super Trends’ lines formed “bearish cross”. The price is already moving below the 3/8 level, that’s why we can expect it to continue falling down. The short-term target is at the 0/8 level.
EUR/JPY
The EUR/JPY currency pair is trying to leave an “overbought zone”, but I think it’s just a correction. Earlier the price rebounded from the daily Super Trend’s line twice and I suppose it may start a new ascending movement.
The pair is moving in the middle of the H1 chart. If the bulls are able to keep the price above the 5/8 level, the pair will start a new ascending movement. The target for the next several days is at the 8/8 level.
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