Murray Math Lines 18.06.2012 (USD/CAD, GBP/CHF, USD/JPY)
Analysis for June 18th, 2012
The correction is about to be finished soon. The bears will not probably be able to keep the price below the4/8 level for a long time. There is a possibility that the market may break the daily Super Trend’s line backwards in the nearest future. If it happens, the price will continue growing up towards the 8/8 level.
At the H1 chart the price couldn’t break the 4/8 level at the first attempt and right now the local correction is taking place. Most likely, the bulls will try to break this level once again. In the future, we can expect the price to reach the 8/8 level.
GBP/CHFThe GBP/CHF currency pair has rebounded from the 2/8 level three times in a row, thus indicating that the descending correction may come to the end. Now the bulls have to break the daily Super Trend’s line. We can expect the price to reach the 8/8 level within the next several days.
The price is moving in the middle of the H1 chart. If the price is able to stay above the 5/8 level, it will continue growing up. There is a possibility that the pair may break the +2/8 level in the nearest future and the lines at the chart will be redrawn.
USD/JPYThe market hasn’t been able to stay below the daily Super Trend’s line for a long time. The price may continue growing up in the nearest future. The target level is the 8/8 one, but first the bulls have to break the 5/8 one and keep the price above it.
At the H1 chart the Super Trends’ line have formed “bullish cross”. The pair is moving near the 5/8 level. There is a possibility that the market may reach the 8/8 level within the next several days. If the price breaks this level, the pair will continue growing up.