Murray Math Lines 19.09.2012 (GBP/CHF, EUR/JPY, SILVER)

Analysis for September 19^th, 2012

GBP/CHF

The GBP/CHF currency pair continues consolidating, the bears are supported by the H4 Super Trend’s line. Taking into consideration the fact that the price is moving below the 3/8 level, we can expect it to continue falling down towards the 0/8 one.



The lines at the H4 and the H1 charts are completely the same. If the pair rebounds from the current levels, the price will continue moving downwards. The target is still at the 0/8 level.

EUR/JPY

The EUR/JPY currency pair is still consolidating, the bulls are supported by the Super Trend’s line. If the pair rebounds from the current levels, the price will continue moving upwards. The pair is moving above the 5/8 level, so the target will be at the 8/8 one.



The pair is moving in the upper part of the H1 chart. There is a possibility that in the nearest future the price may try to test the 6/8 level. If the market rebounds from this level, the current up-trend will continue.

SILVER

The market has entered an “overbought zone” once again, the price is supported by the Super Trends’ lines. In the near term, the instrument is expected to start moving upwards. The target for the next several days is the +2/8 level. If the price breaks this level, the lines at the chart will be redrawn.



At the H1 chart Silver is also moving above the 8/8 level. Yesterday the Super Trends’ lines formed “bullish cross”. During Wednesday the instrument is expected to break the +2/8 level and the lines at the chart will be redrawn. Later I’ll move the stop on my second buy order into the black.