Murray Math Lines 05.07.2011 (GBP/ CHF, NZD/USD, EUR/CHF)

Analysis for July 5^th, 2011

GBP/CHF

In case of this currency cross we have a very interesting situation. The price tried to leave an oversold area, but couldn’t pass the 0/8 level. However, the following correction was stopped by Super trend. That’s why we have reasons to suppose that the price may continue moving upwards.



At the hourly chart the price, after rebounding from the 8/8 level, couldn’t fix itself below the 6/8 level. It means that the price may continue growing. If the price breaks the +2/8 level, the lines will be redrawn.

NZD/USD

The price is testing the 8/8 level once again, indicating a high possibility of the correction. The movement forecast is shown on the chart. There is also a possibility that the 6/8 level will be able to slow down this movement, and after the price rebounds from the level, it will continue growing.



At the hourly chart the price also couldn’t break the 8/8 level, which is a signal for the correction to start. The target level here is 4/8. If this level is not broken, we should expect up-trend to resume its movement.

EUR/CHF

After breaking the level of daily Super trend, the price started growing very quickly. At the moment we can see the correction that may reach the 3/8 level near the line of Super trend. If the price rebounds from this level, it may resume growing up to the 8/8 level.



At the hourly chart the market, while being corrected, reached the 4/8 level. It’s most likely that the level will be broken and the price will keep falling to the 3/8 level. If the price rebounds from this level, it may start growing again. The target is the 8/8 level.