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Murray Math Lines 06.04.2012 (EUR/GBP, USD/CAD, AUD/JPY)
06.04.2012 / 10:18
Analysis for April 6th, 2012
The EUR/GBP currency pair fixed itself below the 0/8 level and continues moving inside an “oversold zone”. Most likely, the price will continue falling down in the nearest future. There is a possibility that in the beginning of the next week the pair may break the -2/8 level and the lines at the chart will be redrawn.
At the H1 chart the lines have been redrawn. The market is moving below the 3/8 level, thus indicating that the price may continue falling down towards the 0/8 one. If this level is also broken, the pair will fall down much lower.
Earlier the price rebounded from the daily Super Trend’s line once again. There is a possibility that the USD/CAD currency pair may start falling down again in the nearest future. The target for the bears is still at the 0/8 level.
At the H1 chart the Super Trends’ lines formed “bearish cross”, and currently the local correction is taking place. The price may continue moving downwards during the next several days, we can expect it to break the-2/8 level. After it does, the lines at the chart will be redrawn.
After leaving an “overbought zone”, the pair started moving downwards fast. The correction started at the4/8 level. There is a possibility that the price may test the 6/8 level. If it rebounds from this level, the descending trend will continue.
At the H1 chart the price rebounded from the -1/8 level and then the correction started. If the market breaks the H4 Super Trend’s line, local growth of the price will continue up to the 4/8 level. After that we can expect the pair to start falling down again.