Murray Math Lines 07.03.2013 (USD/CAD, GBP/CHF, EUR/JPY)

Analysis for March 7^th, 2013

USD/CAD

Canadian Dollar rebounded from the 8/8 level, just as I expected; right now the price is still moving inside an “overbought zone”. Most likely, the pair will start growing up again. After the price breaks the +2/8 level, the lines at the chart will be redrawn.



At the H1 chart we can see that the Super Trends’ lines formed “bullish cross”. If the buyers are able to keep the price above the 2/8 level, the pair will continue growing up towards the 4/8 one. Later this level may become a starting point of a new local correction.

GBP/CHF

Yesterday the pair rebounded from the 5/8 level and the daily Super Trend’s line. In addition to that, the market rebounded from the channel’s upper border, now the bears have to keep the price below the 3/8 level. If they succeed, the pair will continue falling down towards the 0/8 level.



At the H1 chart the price broke the Super Trends’ lines, which may form “bearish cross” during the day. Later, the pair is expected to continue falling down towards the 2/8 level.

EUR/JPY

After rebounding from the 4/8 level, the pair started moving upwards again. At the moment the market is moving between the Super Trends’ lines. We can’t exclude a possibility that the bulls may reach the 8/8 level by the end of the week.



The pair is moving in the middle of the H1 chart; the buyers are supported by 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.



 
RoboForex Analytical Department