Murray Math Lines 11.07.2011 (GBP/JPY, NZD/USD, USD/CHF)

Analysis for July 11^th, 2011

GBP/JPY

4 hour Super Trend has reached red zone. Judging by the range of the completed correction, the price may fall down to the -2/8 level. If this level is broken, the lines will be redrawn.



At the H1 chart the price is at the 2/8 level. This level is quite weak, reverses hardly ever occur here. That’s why we should expect the price to rebound from it and continue moving downwards. Ne more possible target here is the -2/8 level.

USD/CHF

The price has broken both Super Trends which formed bearish crossing. It is a quite strong signal for the descending trend to resume its movement. The forecast still remains in effect. In the near term, we should expect down-trend to continue.



At the H1 chart the price is being corrected right now at the 2/8 level. Since this level is quite weak and reverses hardly ever occur here, we should expect the bearish trend to continue. The target is the -2/8 level so far.

NZD/USD

The price has fixed itself in overbought area above the 8/8 level. That’s why the only possible scenario is the continuation of the bullish trend, There is a possibility that +2/8 level may be broken within the next several days and the lines may be redrawn.



The lines at the H1 chart are the same as H4. The price may continue to grow during the day, step by step reaching an important +2/8 level. After the lines are redrawn, we will see new targets at the charts.