Murray Math Lines 07.07.2011 (GBP/JPY, NZD/USD, USD/CHF)

Analysis for July 7^th, 2011

GBP/JPY

The market has fixed itself below daily Super Trend, and 4 Hour Super Trend has moved into red zone. The correction is facing a strong resistance from the 2/8 level, that’s why down-trend may continue. If the price breaks the +2/8 level, the levels at the chart will be redrawn.



1 and 4 Hour Super Trends have formed a bearish crossing, which is a strong signal that the existing trend will continue. Today I decided to open one more sell order, stop and profit are the same as the previous order. We should expect the price to continue falling during the day.

NZD/USD

The price continues consolidation between the 8/8 level and 4 Hour Super Trend. Such movements usually end up in the continued trend, this scenario is quite possible here. I’m still holding a buy order. After the price leaves the +1/8 level, I will move stop into the black.



At the hourly chart the price tested the 6/8 level several times and each time rebounded from it. This situation seems like a signal for a price growth. If the price breaks the +2/8 level, the levels at the chart will be redrawn.

USD/CHF

At the H4 chart Super Trends are trying to form a bearish crossing. If they succeed, there will be a strong signal for down-trend. I’m still holding a sell order, because I think that the price may keep moving down, to the 0/8 level at least.



1 Hour Super Trend prevents the price from forming a deep rising correction. The market rebounding from the indicator line will allow the price to continue falling up to the 0/8 level. If the price breaks this level, the market may fall even deeper.