Murray Math Lines 20.02.2013 (USD/CAD, GBP/CHF, EUR/JPY)
20.02.2013
Analysis for February 20th, 2013
USD/CAD
Canadian Dollar continues moving upwards; the price rebounded from the 6/8 level and started a local correction. Most likely, the price will be supported by the Super Trend’s line and start a new ascending movement towards the 8/8 level.
The pair is moving in the middle of the H1 chart; the bulls are supported by the H1 Super Trend’s line. If the buyers are able to keep the price above the 5/8 level, the market will continue growing up towards the 8/8 one.
GBP/CHF
The bears entered an “oversold zone”. Earlier the price was consolidating near the 1/8 level, but the H4 Super Trend’s line did support the sellers. The main target right now is the -2/8 level.
At the H1 chart the pair rebounded from the 0/8 level; earlier the Super Trends’ lines formed “bearish cross”. It looks like the price is going to break the -2/8 level. If it happens, the lines at the chart will be redrawn.
EUR/JPY
The bulls are trying to keep the price inside an “overbought zone”; they are supported by the H4 Super Trend’s line. If later the price breaks the +2/8 level, the lines at the chart will be redrawn.
The pair is moving in the middle of the H1 chart, between the Super Trends’ lines. If the bulls are able to keep the price above the 5/8 level, the pair will continue moving upwards. The target is at the 8/8 level.
RoboForex Analytical Department
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