Murrey Math Lines 04.09.2015 (EUR/USD, GBP/JPY)
04.09.2015
Analysis for September 4th, 2015
EUR USD, “Euro vs US Dollar”
At the H4 chart, Eurodollar is trying to stay below the 3/8 level. Earlier, Super Trends formed “bearish cross”. It’s highly likely that in the nearest future the pair may continue falling. The closest target is at the 0/8 level.
At the H1 chart, the pair is moving below the 3/8 level. The price is supported by Super Trends, which formed “bearish cross” earlier. It’s highly likely that the market may reach a new local low during Friday.
GBP JPY, “Great Britain Pound vs Japanese Yen”
As we can see at the H4 chart, the pair has reached the 0/8 level. If the market rebounds from this level, it may reverse upwards. I’m planning to increase my position as soon as the price breaks Super Trends and stays above them.
At the H1 chart, the pair is moving in the middle. The price has rebounded from the 4/8 level, which means that it may start a new ascending correction. The closest target for bulls is at the 5/8 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.