Murrey Math Lines 21.01.2016 (EUR/USD, GBP/JPY)
21.01.2016
Analysis for January 21st, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar continues moving sideways. Right now, the pair is moving close to Super Trends. If the market breaks them and stays below, the pair will continue falling much deeper. In this case, the target will be at the 0/8 level.
At the H1 chart, Eurodollar is moving in the middle. It’s highly likely that in the nearest future Super Trends will form “bearish cross”. If the market breaks the 3/8 level, the pair will continue moving downwards.
GBP JPY, “Great Britain Pound vs Japanese Yen”
In case of the GBP JPY currency pair, the downtrend remains strong. The price has rebounded from the H4 Super Trend and resumed its decline. The closest target for bears is at the 0/8 level. If the market rebounds from this level upwards, it may start a new correction.
At the H1 chart, the price is supported by Super Trends, which earlier formed “bearish cross”. If the pair is able to stay under the 2/8 level, the market will continue falling towards the 0/8 one.
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