Murrey Math Lines 20.04.2015 (EUR/USD, GBP/JPY)
20.04.2015
Analysis for April 20th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is quite steadily moving above Super Trends, which may form “bullish cross” in the nearest future. If the pair is able to stay above the 5/8 level, the market may continue growing towards the 7/8 one.
As we can see at the H1 chart, last week Super Trends formed “bullish cross”. possibly, in the nearest future the market may grow to reach the 8/8 level. After reaching it, the pair may start a new local correction.
GBP JPY, “Great Britain Pound vs Japanese Yen”
The price is back to growing; earlier it rebounded from the 0/8 level. Probably, the pair may reach the 4/8 level during this week. If later it breaks this level, bulls may continue pushing the market upwards.
At the H1 chart, the pair is moving in the middle. The price was supported by the 3/8 level, which means that the uptrend may resume. However, this scenario will be confirmed only after the price is able to stay above the 4/8 level first and then above the 5/8 one as well.
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.