Murrey Math Lines 28.09.2016 (EUR/USD, GBP/JPY)
28.09.2016
Analysis for September 28th, 2016
EUR USD, “Euro vs US Dollar”
Yesterday, the EUR/USD pair broke Super Trends and managed to stay below the 4/8 level, which means that it may continue moving downwards. Consequently, after finishing the local correction, the market may resume falling towards the 1/8 level.
The pair left the “overbought zone” yesterday and Super Trends formed “bearish cross”. As a result, in the nearest future the market may fall towards the 5/8 level. After reaching it, the price may start a new ascending correction.
GBP JPY, “Great Britain Pound vs Japanese Yen”
The GBP/JPY pair is still consolidating close to the H4 Super Trend. It’s highly likely that in the nearest future the market may test the 4/8 level. If it rebounds from this level, the price will continue falling towards the closest bearish target at the 2/8 one.
At the H1 chart, the price is moving in the middle as well. Super Trends are still influenced by “bearish cross”. To confirm a new decline, the price has to fix under the 3/8 level.
RoboForex Analytical Department
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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.