Murray Math Lines 31.07.2012 (NZD/JPY, GBP/CHF, USD/JPY)

Analysis for July 31^st, 2012

NZD/JPY

The pair made a strong ascending movement and left an “oversold zone”. The Super Trends’ lines have already formed “bearish cross”, the price may continue moving upwards. The first target is at the 4/8 level.



The pair is moving in the upper part of the H1 chart. The local correction is supported by the 6/8 level and the Super Trend’s line. If the pair rebounds from the current levels, the price will continue growing up and break the 8/8 one.

GBP/CHF

The GBP/CHF currency pair has rebounded from the daily Super Trend’s line and the 5/8 level. We can’t exclude a possibility that the price may continue growing up. The closest target is at the 8/8 level. I’ve moved the stop on sell order into the black, just in case.



The price is moving in the middle of the H1 chart. The Super Trends’ lines have formed “bearish cross”. If the bulls are able to keep the price above the 5/8 level, the pair will continue growing towards the 8/8 one.

USD/JPY

After rebounding from the daily Super Trend’s line, the USD/JPY currency pair is moving near the 0/8 level. The bears may enter an “oversold zone” in the nearest future. Later we can expect the price to break the -2/8 level and the lines at the chart will be redrawn.



At the H1 chart the Super Trends’ lines have formed “bearish cross”. Currently the pair is being corrected, but it may break the 0/8 level on Tuesday. In the near term, we can expect the price to break the -2/8 level and the lines at the chart will be redrawn.