Murray Math Lines 20.03.2013 (USD/CAD, NZD/USD, EUR/JPY)

Analysis for March 20^th, 2013

USD/CAD

Yesterday Canadian Dollar did enter an “overbought zone” and right now the market is trying to keep the price above the 8/8 level. The bulls are supported by the Super Trends’ lines. In the near term, the pair is expected to continue growing up. If later the price breaks the +2/8 level, the lines at the chart will be redrawn.



At the H1 chart the pair is also moving the 8/8 level. During a local correction I opened one more buy order. If the price rebounds from the current level, the market will break the +2/8 level and the lines at the chart will be redrawn.

NZD/USD

New Zealand Dollar has been consolidating for almost a week; the bears are trying to keep the price below the 3/8 level and the H4 Super Trend’s line. The target is still at the 0/8 level.



At the H1 chart we can see that the Super Trends’ lines formed “bearish cross”. Most likely, the pair will continue moving downwards during the day. The closest target for the sellers is the 0/8 level.

EUR/JPY

After a gap, the pair is still consolidating; earlier the Super Trends’ lines formed “bearish cross”. We can’t exclude a possibility that the price may start a new descending movement very soon. The target is at the 4/8 level.



At the H1 chart the pair is moving between the Super Trends’ lines, which are now in the “red zone”. Later the market is expected to keep the price below the 3/8 level and continue falling down towards the 0/8 one.



 
RoboForex Analytical Department