Murray Math Lines 19.03.2013 (USD/CAD, NZD/USD, EUR/GBP)

Analysis for March 19^th, 2013

USD/CAD

Canadian Dollar is trying to start a new ascending movement. We can’t exclude a possibility that during the next several hours the bulls may break the 8/8 level and enter an “overbought zone”. If later the price breaks the +2/8 level, the lines at the chart will be redrawn.



At the H1 chart the pair rebounded from the 2/8 level and right now is consolidating near the Super Trends’ lines. If the bulls break the 4/8 level, their first target will be at the 6/8 one. The main target is still the 8/8 level.

NZD/USD

After yesterday’s gap the market is consolidating. If the bears are able to break the Super Trend’s line and keep the price below the 3/8 level, the pair will start a new descending movement. The target for the sellers is at the 0/8 level.



At the H1 chart the pair is moving between the Super Trends’ lines. In order to start a new descending movement, the market has to break the 4/8 level and keep the price below it. In the near term, the pair is expected to start falling down towards the 0/8 level.

EUR/GBP

The pair is being corrected; the bears are supported by the H4 Super Trend’s line. If the price rebounds from the current levels, the market will start a new descending movement. If the bears are able to keep the price below the 3/8 level, the pair will continue falling down towards the 0/8 one.



At the H1 chart the pair is consolidating between the Super Trends’ lines. We can’t exclude a possibility that during the day the bears may break the 0/8 level and enter an “oversold zone”. If later the price breaks the -2/8 level, the lines at the chart will be redrawn.



 
RoboForex Analytical Department