Murray Math Lines 28.02.2013 (USD/CAD, GBP/CHF, EUR/JPY)
28.02.2013
Analysis for February 28th, 2013
USD/CAD
Canadian Dollar started a more serious correction; the price is currently moving between the Super Trends’ lines. However, until the market is inside an ascending channel, the bulls have a good chance to start a new ascending movement. The target is at the +2/8 level.
At the H1 chart the Super Trends’ lines formed “bullish cross”; the price may be supported by the 6/8 level. If the pair rebounds from it, the price may start a new ascending movement.
GBP/CHF
The GBP/CHF currency pair is still moving inside an “oversold zone”. Yesterday the price rebounded from the 0/8 level; the bears are supported by the H4 Super Trend’s line. Most likely, in the nearest future the pair will continue falling down towards the -2/8 level.
At the H1 chart we can see that the bears are trying to keep the price below the 3/8 level. If they succeed, the pair will start a new descending movement. The target for the next several days is at the 0/8 level.
EUR/JPY
The bears were stopped by the 4/8 level; the price rebounded from the H4 Super Trend’s line. in the near term, the pair is expected to continue growing up towards the daily Super Trend.
The pair is moving in the middle of the H1 chart; the bulls are trying to keep the price above the Super Trends’ lines. On Thursday we can expect the price to grow up a little bit and reach the 5/8 level.
RoboForex Analytical Department
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