Analysis of Murray's level on September 15, 2016
EUR/USD "Euro vs US Dollar"
Currency pair Euro-US Dollar still consolidates. In the short term perspective, it is quite possible that pair would descend towards the mark at
3/8. If price broke and settled below this level, then further movement towards
1/8 would be possible.
Yesterday we saw another bouncing from the level at
5/8. Consequently, if pair settled below the SuperTrend lines, then there would be a chance for movement towards the mark
2/8 and local minimum breakage.
GBP JPY "British pound vs Japanese Yen"
Cross pair has shown bouncing from the mark at
7/8 and the 4 hours SuperTrend line, and that is a hint for probable further descending. The closest bearish goal is the level
5/8, and breakage of this level can lead to more significant currency pair descending.
On 1 hour chart there are just several points from the breaking the level at
7/8. In case market broke it and settled below the mark at
5/8 during the day, then we would think at the first place about further market dropping towards the line at
3/8.