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Home / Analytics / Forex analysis & forecasts / Forex Murray math lines and forecasts / Analysis of Murray’s level for EUR/USD and GBP/USD on 11.07.2016
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Analysis of Murray’s level for EUR/USD and GBP/USD on 11.07.2016

Analysis of Murray’s level on July, 11, 2016

EUR USD "Euro US Dollar"

For the last days, the pair has formed double pullback from 4-hour SuperTrend line and mark 2/8that indicate the possibility of resuming of declining. The next aim is level -2/8, breakage of which will result in upgrade of Murray’s indications on the chart.

On the 1-hour chart, level 4/8, resists against bulls that return market under SuperTrend line. Apparently, in the next hours, there will be breakage of local minimum that may result in overcoming of mark 0/8 and further declining of the pair in the "overselling area".

GBP USD "British Pound to US Dollar"

Pound is still consolidating under the 4-hour SuperTrend. So later on testing of 0/8 level is possible, pullback from which will be a signal of beginning of upward correction. But if mark 0/8 is broken, then the continuation of the pair declining is possible.

It is clear on the 1-hour chart that pullback from level 1/8 resulted only in flat between SuperTrend lines. So the possibility of further pair declining is kept. It is not excluded that past week minimum will be broken during the Monday.

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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.