Analysis of Murray's levels on July 18, 2016
EUR USD "Euro to US Dollar"
Pullback from daily SuperTrend line accelerated resuming of the pair descending. If during Monday market breaks mark 1/8
and fixes below it, that will indicate the possibility of further descending of quotations towards level -2/8
On 1 hour chart, SuperTrends lines formed "bearish cross", and earlier price formed double pullback from mark 5/8
. So, in the short terms, after completion of local correction resuming of the pair descending is possible.
GBP USD "British Pound to US Dollar"
The pair found resistance on mark 3/8
, earlier from which double pullback was formed in the end of last week. And if in the nearest time market fixes below SuperTrends lines, beginning of new coil of the pair descending will be highly possible. Possible target for bears is Murray's level 0/8
On 1 hour chart, after pullback from mark 6/8
, SuperTrends lines formed "bearish cross". Currently, market is in local correction, but if further the pair fixes below mark 3/8
, resuming of descending toward level 0/8
will be possible.