Murray Math Lines 24.02.2012 (AUD/USD, EUR/JPY, NZD/JPY)

Analysis for February 24^th, 2012

AUD/USD

Australian Dollar couldn’t stay below the daily Super Trend for a long time, the pair started to move upwards again and has already reached the 8/8 level. If the bulls break this level, the market will continue growing up towards the +2/8 one.



At the H1 chart the price is also trying to break the 8/8 level. Most likely, the pair will enter an “overbought zone” on Friday. Next week we can expect the price to break the +2/8 level, and after it happens the lines at the chart will be redrawn.

EUR/JPY

The EUR/JPY currency pair broke the 4/8 level and right now is moving above it. There is a possibility that the price may continue growing, up to the 8/8 level. However, to confirm this scenario the market must break the 5/8 level first.



At the H1 chart the pair is inside an “overbought zone”. It looks like the price is going to continue growing up and break the +2/8 level on Friday. After it happens, the lines at the chart will be redrawn and we’ll get new targets for the nearest future.

NZD/JPY

The NZD/JPY currency pair managed to rebound from the H4 Super Trend’s line. More to that, the bulls have already broken the local maximum, thus allowing me to move the stop on sell order into the black. The target is at the 4/8 level.



After rebounding from the 6/8 level and the Super Trend’s line, the price entered an “overbought zone”. Most likely, in the near term the pair will continue moving upwards. Later on we can expect the price to break the +2/8 level, and after it happens the lines at the H1 chart will be redrawn.