Murrey Math Lines 13.04.2016 (EUR/USD, GBP/USD)

Analysis for April 13^th, 2016

EUR USD, “Euro vs US Dollar”

Eurodollar is attempting to leave the flat, which is talking too much time by now. If the price is able to stay under the H4 Super Trend, it may continue falling towards the 4/8 level. However, if the price fails to stay below the 5/8 level, the market may continue consolidating.



At the H1 chart, Eurodollar has rebounded from the 7/8 level and started moving downwards. If later Super Trends form “bearish cross”, the price will continue falling towards at the -2/8 level. If the pair breaks this level, the lines at the chart will be redrawn.

GBP USD, “Great Britain Pound vs US Dollar”

Pound has rebounded from the 7/8 level, which means that the market may resume its decline after the pair breaks Super Trends and stays below them. Later, if the price rebounds from the 4/8 level, it may start a new local correction.



The lines at the H4 and H1 charts are completely the same. It’s highly likely that in the nearest future Super Trends may form “bearish cross” and the pair may start a new descending movement.



 
RoboForex Analytical Department