Murray Math Lines 20.07.2011 (GBP/CHF, NZD/USD, GOLD)

Analysis for July 20^th, 2011

GBP/CHF

The price rebounded from daily Super Trend and the 5/8 level during the correction. If the market is able to go back below H4 Super Trend, it will be a signal for down-trend to move to the 0/8 level. Yesterday I opened a sell order, which now is a bit negative. Take Profit is at the 0/8 level, protective stop is higher than daily Super Trend.



At the H1 chart we can see that the market is stuck between two Super Trends, daily and H4. The forecast is still bearish. If the market breaks the 4/8 level, it will be a signal for the main trend to continue and the price to move to the 0/8 level.

NZD/USD

In case New Zealand Dollar the rising trend continues. The price is at the 7/8 level, the target level is 8/8 which may be reached this week. Take Profit on buy order is at the 8/8 level, the stop is below last local minimum.



At the H1 chart the price is entering and overbought area. If the price keeps growing and breaks the +2/8 level, the lines will be redrawn. When the price reaches +1/8 level, I will move protective stop into the black.

GOLD

The price rebounded from the 7/8 level, broke H4 Super Trend and fixed itself below it. Since previous movement was quite strong and significant, rebound from 7/8 level may be a signal for, at least, the correction to start. Now the market may test the 4/8 level and daily Super Trend’s line. If these levels are not broken by bears, up-trend may continue.



At the H1 chart we can see that the bearish crossing of Super Trends has been formed. At the moment the correction is taking place, and it is supported by H1 Super Trend. If the market rebounds from this level, the price will be able to test the 4/8 level.