Murray Math Lines 27.07.2012 (EUR/GBP, USD/JPY, SILVER)

Analysis for July 27^th, 2012

EUR/GBP

The EUR/GBP currency pair is still being corrected and this movement is supported by the daily Super Trend’s line. Most likely, the price will enter an “oversold zone” on Friday. Later we can expect the pair to break the -2/8 level and the lines at the chart will be redrawn.



The price is moving in the middle of the H1 chart. It looks like the market is going to break the 4/8 level within the next several hours and then continue falling down towards the 0/8 one. The forecast of the price movement is still bearish.

USD/JPY

The USD/JPY currency has been consolidating over the last several days, the bears are supported by the H4 Super trend’s line. Most likely, the price will start moving downwards in the nearest future. There is a possibility that the pair may break the -2/8 level. In this case the lines at the chart will be redrawn.



At the H1 chart the correction is supported by the 1/8 level, the price rebounded from this level yesterday. In the future the pair may enter an “oversold zone”. If the market breaks the -2/8 level, the lines at the chart will be redrawn.

SILVER

The daily Super Trend’s line is slowing down the bulls a bit so far. We can’t exclude a possibility that the price may rebound from the line and the 3/8 level. In this case the instrument will continue falling down. Most likely, the price will break the -2/8 level and the lines at the chart will be redrawn.



At the H1 chart the price has stopped growing up near the 6/8 level. If the market breaks the Super Trends’ lines and keeps the price below them, it will continue moving downwards. The closest target is at the 0/8 level.