Murrey Math Lines 07.07.2015 (EUR/USD, GBP/USD)
07.07.2015
Analysis for July 7th, 2015
EUR USD, “Euro vs US Dollar”
Euro is still consolidating below the 3/8 level. The pair is supported by Super Trends. In the nearest future, Eurodollar may break the minimum and continue falling towards the 0/8 level.
As we can see at the H1 chart, the price is moving below Super Trends again. Probably, the price may break the 0/8 level very soon and then continue falling inside “oversold zone”. After the market breaks the -2/8 level, the lines at the chart will be redrawn.
GBP USD, “Great Britain Pound vs US Dollar”
Pound has rebounded from the 4/8 level and the H4 Super Trends once again the closest target is at the 2/8 level. If the price breaks this level, it will fall much deeper. Most likely, the pair is going to reach a new local low during the day.
At the H1 chart, the pair is moving inside “oversold zone”. The price has rebounded from the 0/8 level and Super Trends. It looks like the market is going to break the -2/8 level in the nearest future. In this case, the lines at the chart will be redrawn.
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