Murray Math Lines 26.02.2013 (USD/CAD, USD/CHF, SILVER)

Analysis for February 26^th, 2013

USD/CAD

Several Take Profits worked at the 8/8 level and it looks like the bulls are not going to stop there. We can’t exclude a possibility that the buyers may enter an “overbought zone” on Tuesday. The short –term target is at the +2/8 level.



The pair is moving in the upper part of the H1 chart; the bulls are supported by the Super Trends’ lines. If the price rebounds from the lines, the pair will start a new ascending movement.

USD/CHF

Franc is moving inside an “overbought zone”; earlier the price rebounded from the H4 Super Trend’s line. Later, the pair may break the +2/8 level and the lines at the chart will be redrawn.



At the H1 chart we can see that the bulls tried to break the +2/8 level several times, but failed. If they succeed this time, the lines at the chart will be redrawn and we will have new targets. I will move the stop on my buy order into the black as soon as possible.

SILVER

Silver has been consolidating for the last several days; the bears are supported by the H4 Super Trend’s line. However, the price may start moving downwards in the nearest future. The intermediate target is at the 3/8 level; the price may break it and continue falling down towards the 0/8 one.



At the H1 chart we can see that the bulls couldn’t break the 3/8 level. In addition to that, the price broke the Super Trends’ lines backwards. It looks like the price is going to continue falling down towards the -2/8 level.



 
RoboForex Analytical Department