Murray Math Lines 22.03.2013 (USD/CAD, GBP/CHF, EUR/JPY)

Analysis for March 22^nd, 2013

USD/CAD

Canadian Dollar is still consolidating. We can’t exclude a possibility that the price movement may take the form of a classic continuation pattern, “triangle”. Earlier the Super Trends’ lines formed “bullish cross”. Most likely, in the nearest future the pair will break the +2/8 level and the lines at the chart will be redrawn.



At the H1 chart we can see that the pair is going to test the 1/8 level once again. If the pair rebounds from this level, the price will start a new ascending movement. The first target for the buyers will be the 8/8 level.

GBP/CHF

The pair is moving above the 5/8 level and may continue growing up; earlier the Super Trends’ lines formed “bullish cross”. The main target for the next several days is at the 8/8 level.



At the H1 chart the price is very close to an “overbought zone”; the bulls are supported by the Super Trends’ lines. We can’t exclude a possibility that the pair may break the 8/8 level during Friday and enter an “overbought zone”.

EUR/JPY

The pair is still being corrected. The bulls are trying to rebound from the 6/8 level. If they succeed, the price will start growing up again. The first target is at the +2/8 level.



The pair is moving in the middle of the H1 chart. If the price rebounds from the 4/8 level, the market will start a new ascending movement. Today I’ve opened a quite risky buy order. If the market is able to keep the price above the Super Trends’ lines, I’ll add several more buy orders.



 
RoboForex Analytical Department