Murray Math Lines 17.08.2012 (USD/CAD, AUD/JPY, USD/CHF)

Analysis for August 17^th, 2012

USD/CAD

Canadian Dollar continues falling down. The price is moving below the 2/8 level, the bears are supported by the H4 Super Trend’s line.  In the near term, we can expect the pair to continue falling down towards the 0/8 level.



At the H1 chart the price is moving inside an “oversold zone”. The pair may try to test the 0/8 level. In case it rebounds from the level, the price may continue moving downwards, break the -2/8 level and the lines at the chart will be redrawn.

AUD/JPY

The AUD/JPY currency pair is growing up slowly. The price is moving above the 5/8 level and may continue growing up towards the 8/8 one. In the near term, we can expect the market to start moving upwards again.



The price is moving in the middle of the H1 chart. If the market rebounds from the 4/8 level and keeps the price above the Super Trends’ lines, the pair will continue moving upwards inside the ascending trend.

USD/CHF

Franc has rebounded from the 3/8 level several times. In the near term, we can expect the price to grow up and reach at least the 5/8 level. If the market is able to keep the price above the daily Super Trend’s line, the pair may continue growing up towards the 8/8 level.



At the H1 chart we can see that the price hasn’t been able to breach the 6/8 level, thus indicating that the pair may start moving upwards again. Most likely, the price will continue growing up during the next several days. There is a possibility that it may enter an “overbought zone”, break the +2/8 level and the lines at the chart will be redrawn.