Murrey Math Lines 28.06.2016 (EUR/USD, GBP/USD)
28.06.2016
Analysis for June 28th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar is still being corrected at the bottom of the H4 chart under Super Trends. If the price stays under the 1/8 level during the day, the market may continue falling towards the -2/8 one.
The lines at the H4 and H1 charts are completely the same. At the moment, the price is moving between Super Trends. If later the pair is able to stay below them, it may start a new descending movement. In case the market breaks the -2/8 level, the lines at the chart will be redrawn.
GBP USD, “Great Britain Pound vs US Dollar”
Yesterday, Pound reached a new low, but bears couldn’t break the 2/8 level. If the price rebounds from the H4 Super Trends during the day, later the pair may reach the 1/8 level and then start an ascending correction.
At the H1 chart, the price is stuck between Super Trends. If Pound stays below them, it will continue moving downwards. The closest target is at the 1/8 level. If the price rebounds from it, the current tendency may be over. However, if this level is broken on the first try, the next target will be at the 0/8 one.
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