Murrey Math Lines 27.01.2016 (EUR/USD, GBP/JPY)
27.01.2016
Analysis for January 27th, 2016
EUR USD, “Euro vs US Dollar”
After rebounding from the 1/8 level twice, the pair is trying to stay above Super Trends, which may form “bullish cross” in the nearest future. The closest target is at the 4/8 level. If the market breaks this level and stays above it, Eurodollar may continue growing much higher.
At the H1 chart, Eurodollar is moving in the middle. Super Trends have formed “bullish cross”, which means that the market may move upwards a little bit to reach the 6/8 level. During the local correction, I opened a buy order and in the future, I’m planning to increase my position.
GBP JPY, “Great Britain Pound vs Japanese Yen”
After rebounding from the 1/8 level, the pair is trying to stay above Super Trends again. If it succeeds, the market may continue growing towards the 3/8 level. It’s highly likely that the price may break yesterday’s high during the day.
As we can see at the H1 chart, Super Trends have formed “bullish cross”. Earlier, the pair rebounded from the 3/8 level. If later the price is able to stay above the 5/8 level, it may continue growing towards the 6/8 one.
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