Murray Math Lines 11.09.2012 (USD/CHF, NZD/USD, EUR/JPY)
11.09.2012 / 12:13
Analysis for September 11th, 2012
USD/CHF
The bears keep trying to push the price downwards. The market is moving below the 6/8 level, thus indicating that the price may continue falling down towards the 4/8 one. I’ve moved the stops on my sell orders into the black.
At the H1 chart the pair is moving below the H1 Super Trend. The price may enter an “oversold zone” in the nearest future. If the pair breaks the -2/8 level, the lines at the chart will be redrawn.
NZD/USD
It looks like the local correction has been finished. The bulls rebounded from the Super Trend’s line and now are trying to keep the price above the 5/8 level. If they succeed, the pair will continue growing up towards the 8/8 one.
At the H1 chart the price is just several pips away from the 8/8 level. Most likely, the bulls will break this level in the nearest future and continue pushing the price upwards. If later they break the +2/8 level, the lines at the chart will be redrawn.
EUR/JPY
The bulls are trying to keep the price inside an “overbought zone”, they are supported by the H4 Super Trend’s line. In the near term, the pair is expected to grow up towards the +2/8 level. If the market breaks this level, the lines at the chart will be redrawn.
At the H1 chart the pair is moving above the 8/8 level and right now is testing it. If the price rebounds from the level, the pair will continue growing up. Most likely, the +2/8 level will be broken within the next several days.
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