Murrey Math Lines 01.10.2015 (EUR/USD, GBP/JPY)
01.10.2015
Analysis for October 1st, 2015
EUR USD, “Euro vs US Dollar”
As we can see at the H4 chart, bears have tipped the scales in their favor and kept the price under Super Trends. Now, everything depends on how the pair will move at the 3/8 level. If bears are strong enough to break this level and stay below it, Eurodollar may continue falling inside the downtrend and reach the 0/8 one.
At the H1 chart, Super Trends have formed “bearish cross”, but the price hasn’t been able to break the 1/8 level for the second time in a row, which means that it may start a short-term correction, at least. If later the market is able to stay below the 3/8 level, the pair will continue falling.
GBP JPY, “Great Britain Pound vs Japanese Yen”
The pair is still moving close to “oversold zone”; earlier it rebounded from the H4 Super Trend. If later bears are able to break the 0/8 level, the price may resume its decline.
At the H1 chart, the pair has rebounded from the 2/8 level and right now is moving between Super Trends. Possibly, on Thursday bears may break the 0/8 level and continue pushing the price towards the -2/8 one. If they break this level as well, the lines at the chart will be redrawn and they will have new targets.
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.