Murray Math Lines 08.04.2013 (NZD/USD, AUD/USD, EUR/JPY)

Analysis for April 8^th, 2013

NZD/USD

At the daily chart, the market rebounded from the Super Trend’s line and right now is trying to keep the price above the 5/8 level. We can’t exclude a possibility that the pair may reach a new local maximum during the next several days. The main target for the buyers is at the 8/8 level.



The pair is moving near the 6/8 level. In the near term, the price is expected to continue growing up towards the 8/8 level. There is a possibility that the market may break this level and continue moving upwards to reach new tops.

AUD/USD

At the daily chart, a local correction is taking place. If the market is able to keep the price above the Super Trends’ line again, the pair will start a new ascending movement. The target for the next several weeks is at the 8/8 level.



A correction was supported by the 6/8 level. If the pair rebounds from this level, the price will start a new ascending movement. In this case, the bulls may reach the 8/8 level, break it, and then continue pushing the price towards the +2/8 one.

EUR/JPY

The pair continues growing up inside an “overbought zone”. After the market opening on Monday the price reached a new maximum. The bulls may reach the +2/8 level during the next several days. After they break this level, the lines at the chart will be redrawn.



The Super Trends’ lines formed ”bullish cross”, and the pair has been growing up since. Right now the piece is just several hundreds of pips away from the 8/8 level. Later this level may become a starting point of a new correction.



 
RoboForex Analytical Department