Murray Math Lines 31.01.2013 (GBP/CHF, CAD/JPY, EUR/JPY)

31.01.2013

Analysis for January 31st, 2013

GBP/CHF

The GBP/CHF currency pair is still moving downwards; the bears are supported by the Super Trends’ lines. The price is already moving below the 3/8 level, so we can expect it to continue falling down towards the 0/8 one.



At the H1 chart we can see that the pair entered an “oversold zone”. Most likely, in the nearest future the price will start a new descending movement. After the market breaks the -2/8 level, the lines at the chart will be redrawn.



CAD/JPY

After rebounding from the H4 Super Trend’s line, the CAD/JPY currency pair started moving upwards again. We can’t exclude a possibility that in the nearest future the price may break a local maximum. The main target for the bulls is the 8/8 level.



At the H1 chart the market is moving inside an “overbought zone”. Yesterday the price rebounded from the 8/8 level and started a new ascending movement. Later the pair is expected to break the +2/8 level. In this case the lines at the chart will be redrawn.



EUR/JPY

The EUR/JPY currency pair broke a local maximum; the bulls are supported by the Super Trends’ lines. Most likely, in the nearest future the price will continue growing up. The main target for the bulls is the 8/8 level.



At the H1 chart the pair is consolidating; there is a possibility that it may test the H4 Super Trend’s line. Alter the price is expected to continue growing up towards the 8/8 level.



 
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