Murray Math Lines 16.08.2012 (USD/CAD, EUR/JPY, EUR/GBP)

Analysis for August 16^th, 2012

USD/CAD

Canadian Dollar is moving below 3/8 level, thus indicating that it may continue falling down towards the 0/8 one. The bears are supported by the Super Trends’ lines. In the near term, we can expect the pair to continue moving downwards.



The price is moving in the middle of the H1 chart. If the price rebounds from the current levels, the pair will start falling down again. The main target is at the 0/8 level.

EUR/JPY

The “summer correction“ continues. The market is moving near the 5/8 level, from which it rebounded earlier. If the price rebounds from the current levels, the pair will start falling down towards the 0/8 one.



At the H1 chart the pair is trying to rebound from the 5/8 level once again. If the bears are able to break the Super Trends’ lines and keep the price below them, the pair will continue moving downwards and reach the 0/8 level. If this level is also broken, the market will move lower.

EUR/GBP

The market is trying to keep the price below the Super Trends’ lines, which have already formed “bearish cross”. Now the bears have to break the 0/8 level. If the price continues moving inside an “oversold zone”, it may reach and break the -2/8 level, and the lines at the chart will be redrawn.



At the H1 chart the pair is still consolidating below the 2/8 level, the bears are supported by the Super Trend’s line. If the price rebounds from the current level, the market may break the 0/8 level or even the -2/8 one.