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Forex analysis & forecasts

Murray Math Lines 01.02.2013 (GBP/CHF, CAD/JPY, USD/JPY)


Analysis for February 1st, 2013


Currently a local correction is taking place, which is supported by the H4 Super Trend’s line. Most likely, the price will start moving downwards again in the nearest future. The main target for the bears is the 0/8 level.

At the H1 chart we can see that the sellers’ first attempt to keep the price inside an “oversold zone” failed. However, if the market rebounds from the Super Trend’s line, it may continue falling down. After the pair breaks the -2/8 level, the lines at the chart will be redrawn.


After a slight correction the pair continued moving upwards; the bulls are supported by the Super Trends’ lines. Most likely, in the nearest future the buyers will reach the 4/8 level.

At the H1 chart the market is just several tens of pips away from an “overbought zone”; the price may break the 8/8 level during Friday. If later the market breaks the +2/8 level, the lines at the chart will be redrawn.


The USD/JPY currency pair started moving upwards again. On Thursday the price reached a new local maximum and now nothing will prevent the bulls from pushing it towards the 8/8 level. Later, this level may become a starting point of a correction

The price is already moving above the 5/8 level; the bulls are supported by the Super Trends’ lines. During the next several days the pair is expected to continue growing up towards the 8/8 level.

RoboForex Analytical Department


Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.