Murray Math Lines 11.03.2013 (USD/CAD, GBP/CHF, AUD/JPY)
11.03.2013
Analysis for March 11th, 2013
USD/CAD
The pair rebounded from the 8/8 level several times; during a local correction I opened a new buy order. Most likely, in the nearest future, the price will continue moving upwards inside an “overbought zone”. The target for the next several hours is +2/8.
The pair is moving in the lower part of the H1 chart. If the price breaks the Super Trends’ lines, the pair will start a new ascending movement. The first obstacle for the bulls will be the 3/8 level; they may break it and then continue pushing the price upwards.
GBP/CHF
The bears are supported by the H4 Super Trend’s line, which the price rebounded from several times. We can’t exclude a possibility that the pair way start moving downwards again on Monday. If the sellers are able to keep the price below the 3/8 level, the market will continue falling down towards the 0/8 one.
At the H1 chart we can see that the price is rebounding from the upper levels. At the moment the pair is moving between the Super Trends’ lines, which earlier formed “bearish cross” and are currently in the “green zone”. Most likely, the price will break a local minimum quite soon.
AUD/JPY
The pair is still moving upwards quite fast; the bulls are supported by the H4 Super Trend’s line. The price is already moving above the 5/8 level, which means that it may continue growing up towards the 8/8 level.
The lines at the H4 and the H1 charts are completely the same; we can’t exclude a possibility that the bears ay try to break a local minimum. However, if the pair rebounds from the Super Trend’s line, the bulls will continue pushing the price towards new maximums.
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