Murrey Math Lines 11.09.2015 (EUR/USD, GBP/JPY)
11.09.2015
Analysis for September 11th, 2015
EUR USD, “Euro vs US Dollar”
The Eurodollar continues to consolidate in the middle of the building of levels. It is possible that in the short term the 5/8 mark will be tested. In the case of a retreat from it, a resumption of the decline of the price is possible fixing below the line 4/8.
On the hourly chart the price is trading in the "overbought" zone. It is likely that the euro will soon test the +2/8 mark. If a break through down occurs, it will indicate the possibility of a return of the bears to the market.
GBP JPY, “Great Britain Pound vs Japanese Yen”
The Cross continues to move upward. Yesterday the SuperTrend lines formed a "bullish cross". Most likely, in the short term the price can break through and secure above the 4/8, that will be a signal to a further increase in price.
On the hourly chart support for the correction is at the level of 6/8. If the price can form a retreat from it and then consolidate above 7/8, it will indicate the possibility of breaking through 8/8 and growth in the framework of the "overbought" zone.
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.