Murrey Math Lines 05.07.2016 (EUR/USD, GBP/USD)
05.07.2016
Analysis for July 5th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar rebounded from the 3/8 level, which provided resistance for the current correction earlier. If later the price stays under the H4 Super Trend, the market may resume falling towards the -2/8 level.
The lines at the H4 and H1 charts are completely the same. Super Trends are influenced by “bullish cross”. if later the price breaks the H1 Super Trend and stays under it, the downtrend may resume.
GBP USD, “Great Britain Pound vs US Dollar”
After rebounding from the H4 Super Trend, Pound is moving near its lows and trying to stay below the 2/8 level. If bears keep the price below this level, the next target for the pair will be at the 1/8 one.
At the H1 chart, Super Trends are still influenced by “bearish cross”. If later the price fails to break the 1/8 level on the first try, the market may start an ascending correction.
RoboForex Analytical Department
Attention!
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.