Murray Math Lines 06.07.2011 (GBP/JPY, EUR/CHF, NZD/USD)

Analysis for July 6^th, 2011

GBP/JPY

Yesterday the price didn’t succeed in breaking daily Super Trend. The market was above the indicator line only for few hours and then went down below it again. The sell order stop is at the level of weekly Super Trend, but the price hasn’t reached it yet. At the moment we should expect the price to continue moving downwards inside the down-trend to the -2/8 level.



Hourly Super Trend has already moved into red zone, and the price has broken the 4/8 level. If the market fixes itself below this level, it will allow the price to reach the 0/8 level. There is a possibility that the 0/8 level will slow down bears and the price will continue to move down.

EUR/CHF

The price keeps being corrected, as we expected, and its movement is supported by daily Super Trend. If the market rebounds from it, it’s a signal that the price will continue growing. The target level here is the 8/8 level, where Take Profit is.



At the hourly chart the levels are the same as at the H4 chart. The correction may be supported by the 3/8 level. Before growing, the market may spend some time between the 3/8-5/8 level, and then start moving upwards.

NZD/USD

The market couldn’t break the level of 4 hour Super Trend and rebounded from it. This may be enough for the correction and the price will continue rising without testing the 6/8 level (so much more that at the hourly chart below it has been tested but not broken). The target level here is the 8/8 level of the daily chart, where Take Profit is.



The price tried to break the 6/8 level at the hourly chart several times, but didn’t succeed. 4 hour Super Trend is also slowing bears down. I expect up-trend to continue during the day, and the price to break the +2/8 level. After that the levels at the chart will be redrawn.