Murrey Math Lines 22.01.2016 (EUR/USD, GBP/JPY)
22.01.2016
Analysis for January 22nd, 2016
EUR USD, “Euro vs US Dollar”
The flat continues. Yesterday, Eurodollar couldn’t break the 1/8 level and right now is consolidating close to Super Trends again. If the market isn’t able to break them, the pair will resume falling towards the 0/8 level.
As we can see at the H1 chart, Super Trends have formed “bearish cross”. If the market rebounds from the 4/8 level during the day, the pair will resume its descending movement. In this case, the target will be at the 0/8 level.
GBP JPY, “Great Britain Pound vs Japanese Yen”
The GBP JPY currency pair has started the correction and right now is moving between Super Trends. If the pair breaks the daily Super Trend, the ascending correction may become much higher. In this case, the target will be at the 3/8 level.
At the H1 chart, Super Trends have formed “bullish cross”. Right now, the pair is moving in the middle of the chart and it if breaks the 4/8 level, the market will continue growing towards the 5/8 one.
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