Murray Math Lines 05.03.2013 (USD/CAD, USD/CHF, EUR/GBP)

Analysis for March 5^th, 2013

USD/CAD

Canadian Dollar is still being corrected; at the H4 chart the price is testing the 8/8 level. If the market rebounds from this level, the pair will start a new ascending movement. If later the price breaks the +2/8 level, the lines at the chart will be redrawn.



At the H1 chart the pair is moving a bit above the 4/8 level. To start a new ascending movement, the bulls have to break the Super Trends’ lines and then keep the price above the 5/8 level. If they succeed, the next target will be at the 8/8 level. If later the market breaks this level as well, the buyers will continue pushing the price towards the +2/8 one.

USD/CHF

A local correction is taking place right now and I decided to open one more buy order. The bulls are supported by the H4 Super Trend. If the price rebounds from the current levels, the pair may continue growing up and reach the 8/8 one.



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 growing up towards the 8/8 one.

EUR/GBP

We can’t exclude a possibility that the pair may continue a correction for a little more; the closest target is at the 4/8 level. The future scenario depends on how the price will move near this level. If the pair rebounds from it, the bulls will continue pushing the price upwards.



At the H1 chart the Super Trends’ lines formed “bearish cross”. The price is already moving below the 3/8 level, which means that it may continue falling down. The short-term target is at the 0/8 level.



 
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