Murray Math Lines 04.03.2013 (USD/CAD, GBP/CHF, SILVER)

Analysis for March 4^th, 2013

USD/CAD

Canadian Dollar continues moving upwards. At the daily chart we can see that the bulls broke the 4/8 level. If later they are able to keep the price above the 5/8 level, the pair will continue growing up towards the 8/8 one.



At the H4 chart the price is moving inside an “overbought zone”. We can’t exclude a possibility that the pair may try to test the 8/8 level once again. If the pair rebounds from it, the price will start a new ascending movement.

GBP/CHF

At the daily chart we can see that the GBP/CHF currency pair is still being corrected; the bears are supported by the Super Trend’s line. The price is already moving below the 3/8 level, so we can expect it to continue falling down towards the 0/8 one.



At the H4 chart the bulls are trying to leave an “oversold zone”. However, they are very unlikely to keep the price above the 0/8 level for a long time. Most likely, during the next several hours the pair will move below the 0/8 level again. If later the pair breaks the -2/8 level, the lines at the chart will be redrawn.

SILVER

At the daily chart Siler is moving below the 3/8 level; the sellers are supported by the Super Trend’s line. In the near term, the
price is expected to finish a local correction and start a new descending movement towards the 0/8 level.



Silver is moving in the middle of the H4 chart. If the instrument rebounds form the Super Trend’s line, the price will start moving downwards. After reaching and breaking the 3/8 level, the next target will be at the 0/8 one.



 
RoboForex Analytical Department