Murray Math Lines 29.03.2013 (NZD/USD, EUR/GBP, AUD/JPY)
29.03.2013
Analysis for March 29th, 2013
NZD/USD
New Zealand Dollar has been consolidating for several days; earlier the Super Trends’ lines formed “bullish cross”. The price started growing up after rebounding from the 2/8 level, so the main target for my short-term buy order is at the 6/8 one.
At the H1 chart the pair is moving between the Super Trends’ lines. If the market is able to keep the price the Super Trend’s line, the pair will continue growing up. The target for next туче several hours is the 8/8 level.
EUR/GBP
The EUR/GBP currency pair is still moving inside the descending trend. Most likely, later the price may start a correction, which may be supported by the H4 Super Trend’s line. If the market rebounds from the line, the pair will start a new descending movement towards the 0/8 level.
The pair is moving in the middle of the H1 chart. The bears couldn’t break the 4/8 level so far, that’s why right now a correction is taking place. I decided to open an additional sort position and placed a limit order.
AUD/JPY
The pair is moving near the daily Super Trend’s line, from which it rebounded several times in the past. It can happen again this time. Expecting this to happen I decided to open a buy order and will move the stop into the black as soon as possible.
At the H1 chart we can see that the bears couldn’t keep the price below the 3/8 level. If the pair breaks the Super Trends’ lines, the market will start a new ascending movement. After the price start moving above the lines, the target will be at the 8/8 level.
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