Forex Murray math lines and forecasts

One of the classic approaches to the currency market analysis, which is successfully applied to everyday trading processes. Murrey math lines can be used for understanding both short- and long-term outlooks. As a rule, a strategy that involves Murrey math lines includes other types of technical analysis.

29.08.2011

Murray Math Lines 29.08.2011 (USD/CAD, GBP/CHF, EUR/JPY)

Contrary to all expectations, Canadian Dollar decided to test the 8/8 level and the daily Super Trend’s line once again. If bears aren’t strong enough to break these levels and the market rebounds from them, we can expect the price to continue growing again.
26.08.2011

Murray Math Lines 26.08.2011 (USD/CAD, AUD/JPY, CAD/JPY)

Yesterday the market decided to test the “triangle” pattern. The price rebounded from its bottom line, thus indicating the importance of this pattern. Taking into consideration that this movement is taking place in an overbought zone, we can expect the price to start growing again to the +2/8 level. If this level is broken, the lines will be redrawn.
25.08.2011

Murray Math Lines 25.08.2011 (GPB/CHF, NZD/USD, USD/CAD)

After a very significant growth, the GPB/CHF currency pair has been consolidating for several days. This movement is supported by Super Trend’s line and the 5/8 level. If the market isn’t able to break these levels and rebounds from them, we can expect the price to start growing again.
24.08.2011

Murray Math Lines 24.08.2011 (NZD/USD, USD/CAD, GOLD)

The price fell down a bit over the last few hours, thus indicating the start of the movement to the 0/8 level. If the price breaks H4 Super Trend’s line and fixes itself below it, down-trend may start again. Traders, who are more conservative, are recommended to wait until the price breaks the 3/8 level, as it will be a much safer signal, although the point of entry will be a bit worse.
23.08.2011

Murray Math Lines 23.08.2011 (USD/CAD, EUR/JPY, GOLD)

At the H4 chart the price is consolidating in an overbought zone between the +2/8 and 8/8 levels. The market has rebounded from the 8/8 level twice. Most likely, bulls will breaks this channel upwards and the lines at the chart will be redrawn.
22.08.2011

Murray Math Lines 22.08.2011 (NZD/USD, AUD/JPY, GOLD)

The market is trying to break the 3/8 level, thus indicating that the price may move toward the 0/8 level. Bears are supported by H4 Super Trend’s line. In the near term, we can expect down-trend to continue.
19.08.2011

Murray Math Lines 19.08.2011 (GPB/CHF, NZD/USD, GOLD)

At the H4 chart we can see that the market is consolidating between the 6/8 and 5/8 levels, and this movement is supported by Super Trend’s line. The main target is at the 8/8 level. In the near term, we can expect the price to start growing again.
18.08.2011

Murray Math Lines 18.08.2011 (NZD/USD, GPB/JPY, GOLD)

We may assume that the correction stopped at the 5/8 level. The market has tested this level several times. The forecast is shown on the chart. If the price breaks the 4/8 level and fixes itself below it, down-trend will continue to the 0/8 level.